REG - Neo Energy Metals - New Auditor Appointment - Delay in Annual Accounts

Neo Energy MetalsAnnouncement

31/01/2025 16:30

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RNS Number : 5246V  Neo Energy Metals PLC  31 January 2025

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

 

31 January 2025

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Appointment of New Auditor

Delay in Publication of Annual Report and Annual Accounts

 

Neo Energy Metals plc ('Neo Energy' or the 'Company') is pleased to announce
that it has appointed Moore Kingston Smith LLP ("MKS") as the Company's new
independent auditor.

The appointment of MKS as independent auditor follows an extensive due
diligence undertaken and completed by the Company's Board.

MKS will be responsible for the independent audit for the current financial
year, replacing PKF Littlejohn LLP ('PKF'). This audit will be the first since
the Company listed on the London Stock Exchange and will also include a
detailed review of the several material post balance sheet events including
the acquisition of the Beatrix 4 mine and shaft complex and Beisa Uranium Gold
Mine from Sibanye Stillwater Limited, the acquisition of the adjoining Beisa
North and Beisa South Uranium and Gold Projects from Sunshine Mineral Reserves
Limited and the acquisition of the Henkries South Uranium Project from Eagle
Uranium SA (Pty) Ltd.

MKS is a leading global accounting, audit and advisory network with expertise
across multiple sectors including substantial expertise in the natural
resources sector, possessing deep knowledge in mining and exploration
activities. Their proven capability to represent different companies across
all levels of the London stock exchanges makes them an ideal partner to
support Marula's growth and ambitions.

The Board extends its gratitude to the PKF team for their significant
contributions and professionalism over the years.

MKS have commenced the audit work, although their progress has been delayed
due to the administrative and professional clearance processes from the
Company's previous auditors necessary for the to commence this work. MKS's
strong presence in Africa, particularly in the Southern African region, aligns
seamlessly with the Company's strategy to position itself as South Africa's
leading uranium mining company and a major operator and developer of uranium
mines across Africa.

As a result in the delays incurred by MKS in commencing this work, and the
need for them to complete a detailed review of the material transactions and
acquisitions announced by the Company over the past 3-months there will be a
delay in the publication of the Company's annual report and accounts for the
year ended 30 September 2024.

As a result, trading in the Company's ordinary shares will be suspended with
effect from 7.30am on 31 January 2025.

The Company will provide further updates on expected timings for publication
of its annual report and accounts in due course.

The Company will seek a resumption in trading of its ordinary shares on
publication of the annual report and accounts.

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  Corporate Advisor - AcaciaCap Advisors  michelle@acaciacap.co.za

 

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