Gratomic Inc. (TSX-V:GRAT, OTCQX:CBULF) said it has received confirmation from Namibia’s Ministry of Mines and Energy that its Mining Licence ML215 has been renewed for an additional 15-year term.
The company said it was notified on September 10, 2025, that the Ministry was prepared to renew the licence, following engagement between the parties and a formal response from Gratomic. The licence has since been fully upgraded and renewed, extending its validity through March 2040.
Gratomic also reported that its processing plant completed comprehensive electrical and mechanical performance testing in late October 2025, with all operational tests successfully concluded.
With the licence renewal in place, the company said it is preparing to remobilize its operational team to the site following the Namibian holiday period, and that further updates will be provided, including guidance on near-term operational activities and upcoming financial reporting.
The company acknowledged the Government of Namibia and the Ministry of Mines and Energy for their support, citing a stable and collaborative operating environment for mining investment.
Gratomic noted that no preliminary economic assessment, preliminary feasibility study or feasibility study has been completed to support any level of production at the Aukam property, and that no mineral resources or reserves demonstrating economic viability and technical feasibility have been delineated.
The company said it intends to complete a feasibility study or equivalent work on the property to assess the potential to scale up the existing processing plant to a commercial-scale facility, subject to meeting technical and mineralization requirements.