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There’s a new mining company getting ready to make their Nasdaq debut. And they own some of the largest producing gold mines in all of Africa.
What’s happening:
- Namib Minerals and Hennessy Capital Investment Corp VI (NASDAQ: HCVI) have officially received approval from the United States Securities and Exchange Commission for their business combination
Why it matters:
- This is one of the first major SPAC transactions with a mining company to occur recently on Wall Street, which coincides with gold prices continuing to surge to new all time highs
Going deeper:
- Namib Minerals owns the historic How mine located in southern Zimbabwe which has successfully produced more than 1.8M ounces of gold over the last five decades and contains significant amounts of high grade gold
- Namib Minerals also owns the Redwing mine located in Zimbabwe which was formerly in production as well as more than a dozen exploration permits for copper and cobalt projects in the Democratic Republic of the Congo
The intrigue:
- Critical minerals exploration in Africa has continued to be an emerging theme in the public markets lately, with Premium Resources (TSXV: PREM) recently raising $42M CAD in an equity financing to advance their copper and nickel project in Botswana
