Gold miner Sibanye Stillwater to sell Beatrix 4 shaft to Neo Energy; shares up

Neo Energy Metals

09/12/2024 16:53

** U.S.-listed shares of South African gold miner Sibanye
Stillwater  SBSW.N  rise 9.3% to $4.25, hitting its highest
since Dec. 3
    ** SBSW to sell its Beatrix 4 shaft for 500 million rand
($28.16 million) in cash and shares to uranium company Neo
Energy Metals  NEON.L  
    ** The company had placed the shaft under maintenance in
2023 due to depleted gold reserves
    ** The Free State mine, where the Beatrix 4 shaft is
located, includes SBSW's Beisa uranium project, which holds
about 27 mln pounds of the radioactive element used to generate
nuclear power, according to the company's resource estimates
    ** Including session's moves, stock down 22.2% YTD

($1 = 17.7560 rand)

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))