REG - Neo Energy Metals - Corporate Update

Neo Energy MetalsAnnouncement

17/11/2025 14:30

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RNS Number : 8507H  Neo Energy Metals PLC  17 November 2025

 

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

 

17 November 2025

Neo Energy Metals plc

("Neo Energy" or "the Company")

Corporate Update

Neo Energy, the near-term, low-cost uranium developer is pleased to provide
an update on several key current and upcoming corporate developments in
respect to the implementation of the Company's advanced uranium and gold
mining strategy in South Africa.

The Company's securities have been temporarily suspended from trading on the
London Stock Exchange ("LSE") since 3 February 2025, as a result of delays in
the finalisation and publication of the Company's annual report and accounts
for the year ended 30 September 2024 (the "Annual Accounts").

The Company's Annual Accounts have been finalised and are expected to be
published shortly following a final audit meeting between the Company's Audit
Committee and its independent auditors, Moore Kingston Smith ("MKS"), which is
scheduled for later this week, as well as MKS' partner review process which is
underway to ensure the quality, compliance, and appropriateness of the overall
audit engagement and the final audit report issued by MKS.

The Annual Accounts will then be released by RNS and will be available on the
Company's website.

The Company's Interim Accounts for the six-month period ending 31 March 2025
("Interim Accounts") have also been prepared and are to be published within
5-days after the publication of the Annual Accounts. The Company will then
request that the current temporary suspension from trading is lifted.

During this period of temporary suspension in trading of the Company's shares
on the LSE, the Company has maintained an ongoing dialogue with key
stakeholders including the Financial Conduct Authority, who have been kept
fully informed and aware of the timing of the publication of the Annual
Accounts and Interim Accounts.

The Company has also been engaging with its financial advisors and brokers in
the United Kingdom and South Africa. Analysts are currently updating research
reports on the Company and its proposed high-value uranium and gold asset
acquisitions in South Africa, and these updated reports will be released once
the current temporary suspension of trading on the LSE is lifted. An updated
Corporate Presentation is also being finalised. This will also be released
ahead of investor presentations that are scheduled to commence later this
month in South Africa and the United Kingdom.

The Company's proposed secondary listing of its securities on South Africa's
Johannesburg Stock Exchange ("the JSE") continues to progress. With the
publication of the Annual Accounts and Interim Accounts, this secondary
listing will then be finalised. All key appointments, including a JSE Sponsor,
have been made in respect to this secondary listing and the Company looks
forward to this being finalised as quickly as possible.

The Company continues to make significant progress across financial,
regulatory, and operational matters in respect to its proposed high-value
uranium and gold asset acquisitions in South Africa.

Approval of the regulatory applications, which were formally submitted to the
Department of Mineral Resources and Energy ("DMRE") in South Africa in May
2025, currently remain outstanding. These applications were in respect to the
Company's majority owned subsidiary, Neo Uranium Resources Beisa Mine (Pty)
Limited ("NURB") completing the acquisition of the Beisa Uranium Project, 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.

These regulatory applications, which were prepared by Sibanye-Stillwater
Limited, the Company's Broad-Based Black Economic Empowerment partner,
Siyakhula Sonke Empowerment Corporation (Pty) Ltd and the Company's Management
Team and Advisors sought approval 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.

Progress on this approval process is expected to be advanced during the
current quarter and into Q1 2026 and further updates will be provided to
shareholders on this.

The Company's Board and Executive Management remain focused on publication of
its Annual Accounts, Interim Accounts and on the successful conclusion of the
uranium and gold asset acquisitions in South Africa, which the Board believes
will lead to a major re-rating and valuation of the Company once it resumes
trading on the LSE.

ENDS

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:

 KENYA                                                           SOUTH AFRICA
 Jason Brewer - Executive Chairman                               Theo Botoulas - Chief Executive Officer

 jason@neoenergymetals.com (mailto:jason@neoenergymetals.com)    theo@neoenergymetals.com (mailto:theo@neoenergymetals.com)

 Faith Kinyanjui - Investor Relations faith@neoenergymetals.com  Michelle Krastanov - Corporate Advisor - AcaciaCap Advisors
 (mailto:faith@neoenergymetals.com)

                                                               michelle@acaciacap.co.za (mailto:michelle@acaciacap.co.za)

                                                                 Tel: +27 (0) 11 480 8500
                                                                 James Duncan - Media Relations

                                                                 james@jmdwrite.com (mailto:james@jmdwrite.com)

                                                                 Tel: +27 (0) 79 336 4010

 

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