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Namibia Critical MetalsTSXV:NMI

Critical metals developer, with a project stated to be in Namibia.

NoneNamibia — as stated on the recordings

developer critical metals NoneNamibia
Apr 2026Covered
7 of 10Topics on record
1 executiveNamed on the record
Stage
Developer
Primary commodity
Critical Metals
Jurisdiction
Namibia
Deposit
Xenotime type
Latest appearance
16 Apr 2026
On record
1 interview · 19 statements · 1 executive

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
targeting production of about 120 tons of dprosium per year, 25 tons of turbium a year and 800 tons of yitrium a year
Management-stated Darrin Campbell Apr 2026
Grade
targeting production of 2% 2.3% trio
Management-stated Darrin Campbell Apr 2026
Money on hand
strategic partnership with Japanese government agency JOGMECH and Toyota group
Stated capital need: just under 350 million US, which includes a 20% contingency
Management-stated Darrin Campbell Apr 2026
What happens next
doing another large demonstration plant flotation test work with SGS starting in the next 2 months
Management-stated Darrin Campbell Apr 2026
The main open question
The deposit, production profile and economics rest entirely on unproven flotation metallurgy at scale and on prices—a base case assumes 2029–2030 rarest basket levels; a divergent case depends on bifurcated China/non-China markets…
Weighed from the statements below, not our opinion of the company.
Our reading

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Namibia Critical Metals's own claims across 1 interview — most-covered theme first.

What outside voices pick up on

No independent commentary on record yet — so far the page carries only the company's own voice.

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says the project boasts an 35% IRR with $275–750 million after-tax NPV depending on market assumptions, targets 2.3% rare-earth grade, and produces a high-value basket dominated by dysprosium, terbium and yttrium—avoided the…

What it rests on
Evidence: 3 moments from 1 interview
Read the full case

Management says the project boasts an 35% IRR with $275–750 million after-tax NPV depending on market assumptions, targets 2.3% rare-earth grade, and produces a high-value basket dominated by dysprosium, terbium and yttrium—avoided the cheaper light-rare exposure. Fully permitted with a 25-year license and backed by JOGMECH and Toyota, the company claims one of only two Xenotime deposits under development globally, with flotation metallurgy proven to match light-rare recoveries at higher prices.

▼ Bear case

The deposit, production profile and economics rest entirely on unproven flotation metallurgy at scale and on prices—a base case assumes 2029–2030 rarest basket levels; a divergent case depends on bifurcated China/non-China markets…

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

The deposit, production profile and economics rest entirely on unproven flotation metallurgy at scale and on prices—a base case assumes 2029–2030 rarest basket levels; a divergent case depends on bifurcated China/non-China markets persisting. At $50–120/kg for light rares versus the claimed $250/kg for the value basket, the margin is thin if demand or pricing prove softer. No independent outside view is on record; DFS is not due until 2026, leaving two years of technical and market risk.

◆ Watch next

SGS flotation demonstration plant trial starting in the next two months—the first large-scale test of the metallurgical claim.

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

SGS flotation demonstration plant trial starting in the next two months—the first large-scale test of the metallurgical claim. DFS completion and publication in 2026, including final capex ($350M) and economic case. Market tracking of dysprosium, terbium and yttrium spot prices through 2025–26 against management's 2029–30 basket assumptions.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 9 statements

The deposit 5

Key takeaway. Management describes the deposit as a Xenotime-type resource (April 2026), noting it is one of only two known Xenotime-type deposits under development worldwide and comparable in size and grade to Northern Minerals' Brown's Range.

Read the full summary

The company reports targeting annual production of about 120 tons of dysprosium, 25 tons of terbium and 800 tons of yttrium, with a grade targeting 2 %–2.3 % trio.

What was actually said
deposit type
Xenotime type
“Loftyl is quite unique uh in that it's one of only two known Xenotime type deposits under development worldwide.”
Darrin Campbell· 16 Apr 2026·
grade
targeting production of 2% 2.3% trio
“Well, we're targeting the production of 2% 2.3% trio.”
Darrin Campbell· 16 Apr 2026·
resource size
targeting production of about 120 tons of dprosium per year, 25 tons of turbium a year and 800 tons of yitrium a year
“we're targeting production of uh about 120 tons of dprosium per year, uh 25 tons of turbium a year and 800 tons of yitrium a year.”
Darrin Campbell· 16 Apr 2026·
Show the other 2 statements
resource size
project has the capability to produce on average about 800 tons of utrium per year
“our project has the capability to produce on average about 800 tons of utrium per year.”
Darrin Campbell· 16 Apr 2026·
resource size
one of only two known Xenotime type deposits under development worldwide, comparable in size and grade to Northern Minerals Brown's range
“we are very comparable in uh size and grade of the um resource that we have with Linus.”
Darrin Campbell· 16 Apr 2026·

Jurisdiction 2

Key takeaway. Management of Namibia Critical Metals highlights that the company's project is based in Namibia and, as of April 2026, is fully permitted with a 25-year mining license already issued.

What was actually said
country
Namibia
“I am the president and CEO of Namibia Critical Metals.”
Darrin Campbell· 16 Apr 2026·
permit status
fully permitted with a 25-year mining license already issued
“We're we're fully permitted with a 25-year mining license already issued.”
Darrin Campbell· 16 Apr 2026·

Technical risk 2

Key takeaway. Management acknowledges a key assumption that alternative reagents for the flotation regime, available outside of China, were already identified two years ago.

Read the full summary

They also report that upgrading via flotation processing can bring material at flotation grade back up to a similar percentage as light rare earth projects, but with a higher-value basket.

What was actually said
key assumption
alternative reagents available outside of China for flotation regime already identified two years ago
“by using uh different alternative reagents available outside of China uh that would not impact our project.”
Darrin Campbell· 16 Apr 2026·
metallurgy
upgrading in flotation processing can bring material at flotation grade back up to similar percent trio to light rares projects but with higher value basket
“upgrading that we get in our flotation processing, we can actually bring our material uh at the flotation grade back up to a similar percent trio to what the lights do.”
Darrin Campbell· 16 Apr 2026·

Economics 7 statements

Economics 6

Key takeaway. In an April 2026 update, management presented two economic cases for its project.

Read the full summary

The base case, which uses "realistic rarest basket prices from 2030, 2029 forward," shows an NPV of about 390 million pre-tax and about 275 million after tax. The divergent case, which assumes a "bifurcated Chinese non-China market continues," yields an IRR of about 35% and an after-tax NPV of about 750 million. Capex is estimated at just under 350 million US, including a 20% contingency, for the 13-year mine life. The company notes that NdPr makes up only about 8% of the basket, which is dominated by dysprosium, terbium and yttrium.

What was actually said
capex
just under 350 million US, which includes a 20% contingency
“we're looking at a uh a total capex of about just under 350 million US, which includes a 20% contingency.”
Darrin Campbell· 16 Apr 2026·
irr
divergent case about 35%
“and that had an after tax MPV of about 750 million and an IR of about 35%.”
Darrin Campbell· 16 Apr 2026·
npv
base case about 390 million pre-tax, about 275 million after tax; divergent case about 750 million after tax
“the NPV uh on that base case was about 390 million pre-tax, about 275 million after tax. Um, and our divergent case or bifurcated market uh was was about triple that.”
Darrin Campbell· 16 Apr 2026·
Show the other 3 statements
price assumption
NDPR only makes up about 8% of our basket; dominated by dprosium, turbium and yitrium
“NDPR only makes up about 8% of our basket. We are dominate dominated by dprosium, turbium and yitrium.”
Darrin Campbell· 16 Apr 2026·
price assumption
base case based on realistic rarest basket prices from 2030 2029 forward; divergent case assumes bifurcated Chinese non-China market continues
“we presented two cases. A base case based on what we think is uh realistic rarest basket prices um in from 2030 2029 forward”
Darrin Campbell· 16 Apr 2026·
price assumption
13-year mine life
“So in our base case um the project was about a 13-year mine life.”
Darrin Campbell· 16 Apr 2026·

Financing 1

What was actually said
financing status
strategic partnership with Japanese government agency JOGMECH and Toyota group
“Our strategic partnership with a government agency jog and a major world industrial partner Toyota group is a significant valuation differentiator”
Darrin Campbell· 16 Apr 2026·

Timeline 2 statements

Timeline 2

Key takeaway. Management reports that a DFS is rolling out in 2026, and that another large demonstration plant flotation test work program with SGS will start within the next two months (both comments from April 2026).

What was actually said
milestone
doing another large demonstration plant flotation test work with SGS starting in the next 2 months
“Right now we are doing another large uh demonstration plant flotation test work with SGS later uh in the starting in the next 2 months”
Darrin Campbell· 16 Apr 2026·
study due
DFS rolling out in 2026
“2026 is becoming another transformational year for us with Toyota joining uh the DFS rolling out”
Darrin Campbell· 16 Apr 2026·

Corporate 1 statement

Market 1

What was actually said
cost curve position
value basket could reach as high as $250 a kilogram at a much lower scale project, compared to $50 to $120 a kilogram for light rares
“you have um a a value basket um that could reach as high as $250 a kilogram and at a much lower scale uh u project.”
Darrin Campbell· 16 Apr 2026·

Sources 1 interview

Every interview 1

DateChannelInterviewStatements
16 Apr 2026 Crux Investor Namibia Critical Metals (TSXV:NMI) - Japan-Backed Path to DFS in Q2 2027 19

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

brown’s range 1
dysprosium 1
jogmec 1
lofdal 1
lynas 1
mount weld 1
mountain pass 1
mp materials 1

Questions people ask

What is Namibia Critical Metals's project and where is it?

Namibia Critical Metals is a developer critical metals company, with a project stated to be in Namibia. Everything here is drawn from its executives' own interviews.

Which interviews mention Namibia Critical Metals?

We track 1 interview mentioning Namibia Critical Metals, across 1 channel (Crux Investor).

What are investors saying about Namibia Critical Metals?

No independent commentary is on record yet — so far the page carries only the company's own voice.

What do recent interviews with Namibia Critical Metals cover?

The most-discussed topics on record are economics, the deposit, timeline, jurisdiction — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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