REG - Neo Energy Metals - Further Agreement Signed for Beisa Uranium

Neo Energy MetalsAnnouncement

10/03/2025 08:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250310:nRSJ9797Za&default-theme=true

RNS Number : 9797Z  Neo Energy Metals PLC  10 March 2025

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

 

10 March 2025

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Further Agreement Signed for Beisa Uranium Project Acquisition with
Sibanye-Stillwater Limited

Neo Energy, the near term, low-cost uranium developer, is pleased to announce
that through its 70% majority owned South African subsidiary Neo Uranium
Resources Beisa Mine (Pty) Ltd ('NURB'), it has signed a further ancillary
acquisition agreement with Sibanye Gold Proprietary Limited ('SGL'), a wholly
owned subsidiary of Sibanye Stillwater Limited ('Sibanye-Stillwater') in
respect to its acquisition of the Beatrix 4 mine and shaft complex, the
processing plant complex as well as associated infrastructure located in the
Witwatersrand Basin, in the Free State Province of South Africa ('the Beisa
Uranium Project').

A Sale of Immovable Property Agreement ('Property Agreement') has been signed
by both NURB and SGL, under which NURB has agreed to acquire the land upon
which the Beisa Uranium Project and associated Mining Right extends over. This
land covers the majority of the approximately 6,244 hectares that makes up the
Beisa Uranium Project Mining Right area and includes, the remaining extent of
Portion 1 of the Farm Kalkoenkrans 225 Theunissen RD; Portion 9 of the Farm
Annex Glen Ross 562, Theunissen RD; Portion 4 of the Farm Kalkoenkrans 225
Theunissen RD; the remaining extent of the Farm Palmietkuil 328 Theunissen RD;
the remaining extent of Portion 1 of the Farm Palmietkuil 328 Theunissen RD;
and Portion 6 of the Farm Palmietkuil 328 Theunissen RD.

The price payable for the 6,244 hectares, purchased under the Property
Agreement, is already included in the acquisition cost of the Beisa Uranium
Project and no additional payments are required to be paid to
Sibanye-Stillwater by the Company.

The signing of the Property Agreement has importantly satisfied a further key
condition under the acquisition agreement with SGL.

The Company will continue to provide further updates as other key conditions
are satisfied in respect to the acquisition of the Beisa Uranium Project and
in respect to its broader financings and ongoing audit process.

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.

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:

 Jason Brewer                Executive Chairman                      jason@neoenergymetals.com
 Sean Heathcote              Chief Executive Officer                 sean@neoenergymetals.com
 Faith Kinyanjui             Investor Relations                      faith@neoenergymetals.com
 Michelle Krastanov          Corporate Advisor - AcaciaCap Advisors  michelle@acaciacap.co.za

 Tel: +27 (0) 11 480 8500

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGREAXDEFSNSEEA