Observer Money

Justicia Shipena  Trigon Metals Inc. will sell its Kombat Project in Namibia to Horizon Corporation Limited through its affiliate Kamino Minerals Limited for $24 million (approximately N$444 million).  On Friday, Trigon announced a share purchase agreement dated 27 May 2025. Before the sale, Trigon will reorganise its internal structures. It will create a new wholly owned subsidiary in Ontario, named Trigon Ontario.  According to Trigon, all rights and obligations under its stream agreement with Sprott Private Resource Streaming and Royalty (B) Corp and Sprott Mining Inc. will be transferred to Trigon Ontario.  This move, Trigon said, releases it from any…

Justicia Shipena  Motorists will breathe a sigh of relief on Wednesday as fuel prices are set to drop. The Ministry of Mines, Industry, and Energy announced on Friday that petrol and diesel prices will decrease. Petrol will drop by 30 cents per litre, while both 50 ppm diesel and 10ppm diesel will go down by 70 cents per litre. The new pump prices at Walvis Bay will be N$20.37 per litre for petrol 95, N$19.92 for 50 ppm diesel, and N$20.02 for 10 ppm diesel. According to the ministry, during May, diesel prices declined globally due to oversupply concerns and…

Chamwe Kaira Namibia’s tourism sector maintained positive momentum in April, setting a solid base ahead of the peak travel season. National hospitality occupancy reached 54.94%, slightly higher than the pre-pandemic level of 54.73% recorded in April 2019. This was the highest monthly occupancy rate so far this year.  It reflects a 24.1% increase compared to the previous month. The year-to-date average stands at 41.49%, still below the 2019 average of 44.92%. Simonis Storm Securities reported that “Our 2025 tourism forecast projects a sectoral growth rate of 5.5%, underpinned by an anticipated 7.3% rise in visitor numbers and projected tourism revenue…

Chamwe Kaira CPCS Transcom UK Limited has submitted the Inception Report of the Feasibility Study on the Trans Kalahari Railway for review.  The report will be discussed at the August meeting of the joint ministerial committee between Namibia and Botswana. The consultant began work on the 12-month study in April. CPCS Transcom is working with Zutari, which operates in Botswana and Namibia, as well as Bowman, a Namibian company, and other independent experts. Botswana has proposed expanding the scope of the study to include a broader vision of the railway as the Trans-Kalahari Development Corridor. Botswana’s Minister of Transport and…

Chamwe Kaira Standard Bank has partnered with InnoVent SAS to fund the Diaz Wind Project, Namibia’s largest wind energy farm. The bank has been appointed as the sole mandated lead arranger and underwriter of the senior debt and ancillary facilities. It will provide N$1.2 billion towards the project’s construction. The Diaz Wind Project is a 44-megawatt wind energy farm under development near Lüderitz by InnoVent SAS. It is the second and currently the largest wind project in Namibia. The project supports Namibia’s plan to reduce reliance on imported electricity and build local renewable capacity. “We have collaborated with InnoVent SAS…

CHAMWE KAIRA  Letshego Holdings Namibia Limited (LHN), listed on the Namibian Stock Exchange, has announced its 9th Annual General Meeting (AGM) will take place on Friday, 27 June, in Windhoek. The AGM will cover key resolutions for the financial year ending 31 December 2024. Shareholders will consider the company’s audited financial statements and reports from the board and independent external auditors. Shareholders will vote to ratify two dividend payments: an interim dividend of 39.89 cents per share paid in November 2024 and a final dividend of 43.88 cents per share, to be paid on 27 June. Mansueta-Maria Nandjila Nakale, an…

CHAMWE KAIRA Reconnaissance Energy Africa Ltd. (ReconAfrica) and the National Petroleum Corporation of Namibia (Namcor) have not yet finalised the transaction announced for September 22, 2022. ReconAfrica said discussions are ongoing. The agreement involves ReconAfrica acquiring half of Namcor’s 10% carried participating interest in the 6.3 million-acre Petroleum Exploration Licence (PEL 73) in the Kavango Basin. ReconAfrica also announced that Grayson Andersen has left the company to pursue new career opportunities. Mark Friesen has joined as Managing Director, Investor Relations and Capital Markets. He is based in Calgary and brings experience in energy finance and investor relations in the Canadian…

Chamwe Kaira Mobile Telecommunications Limited (MTC) has informed shareholders that it expects its profit after tax for the period ending 31 March 2025 to rise by between 10% and 17%. Basic and headline earnings per share are also expected to increase by the same margin. “The main contributors to the increase relate to revenue growth and cost control measures. This trading statement has not been reviewed by MTC’s external auditors. The unaudited financial results for the period ending 31 March 2025 are expected to be published on or about 6 June 2025,” the company said in a notice on the…

Chamwe Kaira Koryx Copper Inc. says its latest drill results show continued improvement at the Haib copper and molybdenum project in southern Namibia. Company President and CEO Heye Daun said the project is progressing, though drilling and assay work have moved slower than expected. “We now have a bulked-up technical team in place, with additional drill rigs expected to arrive within the next few weeks, which should improve our drilling rate from the second half of the year. In parallel with the drilling, we are making very significant progress with the various met test work components towards demonstrating the feasibility…

Chamwe Kaira  Bannerman Energy Ltd has appointed Danny Goeman as Independent Chair of its Product Offtake Committee. The company said Goeman is a seasoned commodity marketing executive with over 30 years of experience. He has worked across a range of mining companies, commodities, and regions. His previous roles include Director of Sales, Marketing and Shipping at Fortescue Limited. He also held several senior positions at Rio Tinto, such as General Manager for RTIO Marketing Asia, General Manager for Industry Analysis and Product Strategy, and Global Process Lead for Marketing Services. Goeman brings business experience in Asia and Europe, covering iron…