REG - Neo Energy Metals - Applications Lodged for Key Regulator Approvals

Neo Energy MetalsAnnouncement

15/05/2025 16:30

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RNS Number : 8970I  Neo Energy Metals PLC  15 May 2025

Neo Energy Metals plc / LSE: NEO, A2X: NEO / Market: Main Market of the London
Stock Exchange

 

15 May 2025

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Applications Lodged for Key Regulator Approvals for the Beisa Uranium Project
Acquisition

Issue of Equity - Milestone Performance and Deferred Consideration Shares

Neo Energy, the near term, low-cost uranium developer, is pleased to announce
that it has received notification from Sibanye Stillwater Limited
('Sibanye-Stillwater'), that regulatory applications have now been formally
submitted to the Department of Mineral Resources and Energy ('DMRE') in South
Africa, in respect to the Company's majority owned subsidiary, Neo Uranium
Resources Beisa Mine (Pty) Limited ('NURB") proposed acquisition of a 100%
interest in the Beatrix 4 mine and shaft complex, the processing plant complex
and associated infrastructure located in the Witwatersrand Basin, in the Free
State Province of South Africa (the 'Beisa Uranium Project').

The Beisa Uranium Project, which has total SAMREC Code Compliant measured
uranium and gold resources of 8.5Mlbs and 0.4Mozs respectively and further
indicated resources of 18.3Mlbs of uranium and 0.8Mozs of gold, is fully
permitted, with all licenses, permits and authorisations to be transferred to
the Company's operating subsidiary NURB, as part of the Company's plans to
recommence gold and uranium mining and processing at the Beisa Uranium
Project.

The regulatory applications have been prepared by Sibanye-Stillwater, the
Company's Broad-Based Black Economic Empowerment partner, Siyakhula Sonke
Empowerment Corporation (Pty) Ltd ('SSC Group') and the Company's management
team and advisors in South Africa.

Regulatory approval has been sought from the DMRE under Section 11 and Section
102 of the Mineral and Petroleum Resources Development Act for both a change
in the area and the transfer of ownership of a defined area of the existing
Mining Right that extends over the Beisa Uranium Project to the Company's
subsidiary, NURB.

The Company can also confirm that a total of 381,466,667 Ordinary Shares are
to be issued in respect to satisfaction of key milestones and performance
criteria associated with the advancement of the Company's uranium growth
strategy in South Africa.

Admission

Application has been made for the 381,466,667 Ordinary Shares to be admitted
to trading to be admitted to trading on the Main Market of the London Stock
Exchange on or around 22 May 2025 ("Admission") and will rank pari passu with
the ordinary shares of the Company in issue.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise
2,029,136,002 ordinary shares of 0.01p each, with each share carrying the
right to one vote, therefore the total number of voting rights in the Company
will be 2,029,136,002 This figure may be used by shareholders as the
denominator for calculations by which they will determine if they are required
to notify their interest in the Company, or a change to their interest in the
Company, under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation, and the Directors of the Company are responsible for
the release of this announcement.

END

About NEO Energy Metals Plc

Neo Energy Metals plc is a Uranium developer and mining company listed on the
main market of the London Stock Exchange (LSE: NEO).

The Company and its South African Subsidiaries', namely Neo Uranium Resources
Beisa Mine (Pty) Limited and Neo Uranium Resources South Africa (Pty)
Ltd have continued to strengthen the uranium portfolio through conditional
agreements for the acquisitions of; 100% interest in the Beisa North
and Beisa South Uranium and Gold Projects and 100% interest in the Beatrix
4 mine and shaft complex, the processing plant complex and associated
infrastructure in the Witwatersrand Basin, located in the Free State Province
of South Africa. The combined projects total SAMREC Code compliant resource
base comprises, 117 million pounds of U₃O₈ and over 5 million
ounces of gold.

Additionally, the Company holds up to a 70% stake in the Henkries Uranium
Project, an advanced, low-cost mine located in South Africa's Northern Cape
Province and a 100% interest in the Henkries South Uranium Project,
extending the Henkries Project's strike length by 10km to a total of 46km of
shallow paleo-channels proven to host uranium mineralisation through extensive
drilling and feasibility studies backed by US$30 million in historic
exploration and development expenditure.

The Company is led by a proven board and management team with experience in
uranium and mineral project development in Southern Africa. Neo Energy's
strategy focuses on an accelerated development and production approach to
generate cash flow from Henkries while planning for long-term exploration and
portfolio growth in the highly prospective Uranium district of Africa.

The Company's shares are also listed on the A2X Markets (A2X: NEO), an
independent South African stock exchange, to expand its investor base and
facilitate strategic acquisitions of uranium projects, particularly within
South Africa.

 

For Enquiries Contact:

Neo Energy Metals

 Jason Brewer     Executive Chairman    jason@neoenergymetals.com
 Faith Kinyanjui  Investor Relations    faith@neoenergymetals.com

AcaciaCap Advisors

 Michelle Krastanov    Tel: +27 11 480 8500

Bacchus Capital Advisers

 Richard Allan        Tel: +44 203 848 1642
 Shea O'Callaghan    Tel: +44 203 848 1645

Shore Capital

 Toby Gibbs            Tel: +44 207 408 4090
 Harry Davies-Ball

 

 

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