Namibia Critical Metals Inc. (NCMI) has bolstered its financial position after raising more than C$1.15 million by exercising previously issued share purchase warrants in full.
The inflow of capital comes as the company continues to advance its globally significant Lofdal Heavy Rare Earth Project in Namibia, a key asset in the rapidly growing critical minerals sector.
The company confirmed that a total of 14,761,904 common share purchase warrants were exercised across two separate tranches. Each warrant entitled the holder to acquire one common share, generating aggregate gross proceeds of C$1,154,762.
According to NCMI, the funds will be directed toward general working capital to support ongoing corporate and project-related activities.
Two tranches fully exercised ahead of expiry
The first tranche, which accounted for C$321,429 in proceeds, involved warrants priced at C$0.05 per share.
These warrants were originally issued as part of a non-brokered private placement completed in November 2024 and reached full exercise by November 28, 2025, just ahead of their expiry date.
The second and larger tranche generated C$833,333 from warrants exercised at C$0.10 per share. These warrants stemmed from an earlier non-brokered private placement completed in December 2023 and were scheduled to expire on 22 December 2025.
The early and complete exercise of both tranches signals sustained investor confidence in the company’s long-term strategy and asset base.
Lofdal project positioned as a strategic rare earth asset
Namibia Critical Metals is focused on developing the Lofdal Heavy Rare Earth Project, a Tier-1 deposit with globally significant concentrations of dysprosium and terbium.
These heavy rare earth elements are essential components in high-performance permanent magnets used in electric vehicles, wind turbines, and advanced electronics.
Demand for such materials continues to accelerate as countries and industries pursue energy transition and electrification goals.
At the same time, geopolitical concerns surrounding the supply of rare earths have heightened the strategic importance of projects located in stable and mining-friendly jurisdictions.
Namibia, with its established regulatory framework and long history of mining, offers a compelling backdrop for development.
The Lofdal Project is fully permitted with a 25-year mining license and is operated under a joint venture with the Japan Organization for Metals and Energy Security (JOGMEC).
Strategic partnership with JOGMEC strengthens outlook
JOGMEC, a Japanese government-backed agency, plays a central role in securing critical mineral supplies for Japan’s industrial sector.
The organisation has a long-standing reputation as a strategic investor in rare earth projects worldwide, including major financial support for Lynas Rare Earths and recent investments in heavy rare earth separation capacity in France.
Under the joint venture agreement, JOGMEC can earn up to a 50% interest in Lofdal through staged expenditures totalling C$20m.
To date, JOGMEC has completed the second earn-in phase, investing C$10m to secure a 40% interest, with total approved project funding now standing at C$16.745m.
Namibia Critical Metals retains a majority interest during the earn-in phase, while ensuring that historically disadvantaged Namibians hold a protected stake in the project.
With fresh capital on hand and a well-funded strategic partner, NCMI appears well-positioned as it advances one of the world’s most important emerging heavy rare earth developments.
