Desk · Economic studies · HREE-heavy
TSXV:NMI
Namibia Critical Metals
Lofdal xenotime — one of the few Western HREE (Dy/Tb) deposits with JOGMEC as partner. Heavy rare earths, not another NdPr carbonatite.
Quiet
Pulse Timeline
Isoelectric line is the baseline Pulse. Spike height is catalyst strength. Wide gaps or a flat line = stalled progress / life support.
- 1) 12-01 DFS
- 2) 12-01 Offtake
Lead II · 25 mm/s · Pulse 10 mm/mV · snapshot 2026-08-22
Life support
Isoelectric. No material beat in the window. A listing is not vitality.
- Last beat
- —
- Beats / 90d
- 0
- Recent gap
- —
0 beats in 180d
- — No dated beat in the trailing window.
- — Next: JOGMEC-funded DFS (101d).
- — Government / strategic paper is on the tape.
Trading
- Last
- C$0.080
- 1d
- 0.0%
- Mkt cap
- $22M
- Volume
- 180k
- 52-week
- C$0.03 – C$0.14
- 1m
- —
- 3m
- —
- 1y
- —
Shares — · EV / MagREO $2.8M/kt · snapshot, not a live tape
Company & people
HQ
Halifax / Windhoek
Focus
HREE-heavy · Hard rock
CEO Darrin Campbell
- Darrin Campbell, CEO
- JOGMEC (project partner)
Mine / project
Flagship
Lofdal
Location
Kunene, Namibia · Namibia
Deposit
Xenotime / alkaline
Resource
HREE-biased xenotime resource. JOGMEC earn-in is the strategic tell.
Desk basket
8 kt MagREO (desk)
Radioactivity
Moderate — typical monazite / carbonatite
Capital, loans, grants & support
JOGMEC partner
Earn-in / development partner on Lofdal HREE
- JOGMEC relationship implies Japanese heavy-rare interest
The Pulse
HREE xenotime with Japan attached is scarce. Cap is tiny, liquidity is worse. Pulse is a funded DFS and a Japanese offtake that is binding, not implied.
TSXV microcap. Nasdaq is not on the table until this is a financed mine.
Next: 1 Dec 2026 — JOGMEC-funded study / offtake conversion
Nasdaq path
Home listing is not Nasdaq. Bid price, registration, and a real asset gate are.
- 01 · DoneTSXV listing
Primary listing NMI. Lofdal xenotime — scarce HREE, tiny cap.
- 02 · GapUS OTC
No OTCQB the desk will count.
- 03 · GapDTC eligibility
Not in play.
- 04 · GapUS holder tape
JOGMEC is the partner. That is a Japanese tape, not a US one.
- 05 · NextJOGMEC-funded DFS1 Dec 2026
Binding Japanese offtake, not implied. Cap and liquidity are the other constraint.
- 06 · GapSEC registration
No. Nasdaq is not on the table until this is a financed mine.
- 07 · GapNasdaq $4 bid
Last ~C$0.08. Irrelevant at this stage.
- 08 · GapNasdaq application
Do not uplist a TSXV microcap on a JOGMEC earn-in.
Catalysts
JOGMEC-funded study / offtake conversion
Desk note
Stays on this device. Not the press release.
Pulse = Catalyst proximity + government/strategic support + Nasdaq-path / listing signals + valuation & execution + stage progress. Method