REG - Neo Energy Metals - Henkries passes SA-NNR Inspection

Neo Energy MetalsAnnouncement

23/12/2024 07:00

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RNS Number : 0001R  Neo Energy Metals PLC  23 December 2024

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

 

23 December 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Successful Henkries Uranium Mine Site Inspection

Completed by the South African National Nuclear Regulator

 

Neo Energy is pleased to announce that, following an inspection of the
Henkries Uranium Mine ('Henkries' or the 'Project') by South Africa's National
Nuclear Regulator ('NNR'), the Company has received confirmation that the
inspection was successfully completed, and it demonstrated full compliance
with NNR requirements and all applicable regulations.

The NNR conducted an inspection on 04 December 2024 to verify the compliance
of the Company's subsidiary Desert Star Trading 130 (Pty) Ltd.) ('Desert
Star'), through which the Company has its' interest in Henkries. The
inspection is part of the NNR's continuous monitoring programs and their
annual compliance assurance and event reporting system.

The inspection at Henkries was undertaken in respect to Section 2.1 of
Certificate of Registration 302 that was issued to Desert Star under section
22 of the National Nuclear Regulator Act, 1999 (Act No 47 of 1999). The
inspection completed by NNR covered a visual inspection of the Henkries site
and involved the taking of measurements during a site visit to the core yard.

The report now received by Desert Star details that the inspections confirmed
satisfactory compliance with NNR requirements and regulations and the
conditions of authorisations.

The Company is pleased with the inspection report findings and believe they
reinforce the Company's strategy as a socially and environmentally
responsible, sustainable, and profitable mine developer and producer of
uranium in South Africa.

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:

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

 Tel: +27 (0) 11 480 8500

 

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