REG - Neo Energy Metals - Results of AGM

Neo Energy MetalsAnnouncement

18/05/2026 17:45

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RNS Number : 7969E  Neo Energy Metals PLC  18 May 2026

Neo Energy Metals plc

("Neo Energy" or the "Company")

Results of Annual General Meeting ("AGM")

Neo Energy Metals plc (LSE: NEO; A2X: NEO), the uranium and gold development
company focused on South Africa, announces that at the AGM of the Company held
earlier today, all the resolutions set out in the Notice of AGM dated 23 April
2026 were duly passed by shareholders.

Following the successful outcome of the AGM, the Board believes the Company is
well positioned to continue advancing its strategic and development objectives
during 2026.

This includes:

·   progressing completion of the acquisition of the New Beisa Uranium and
Gold Project from Sibanye-Stillwater;

·    advancing the implementation assessment programme at New Beisa;

·    progressing the Henkries Mining Right application process; and

·    continuing preparations for the Company's planned JSE Main Board
listing.

Neal Froneman, Independent Non-Executive Chairman of Neo Energy Metals,
commented,

"The strong support received from shareholders at today's AGM, including the
re-election of the recently reconstituted Board, is an important endorsement
of the Company's strategy, governance framework and long-term development
objectives.

As we continue advancing our projects towards production, the Board remains
focused on disciplined governance, clear strategic execution and maintaining
the standards expected of a listed company.

We believe Neo Energy is well positioned to continue progressing its
development pipeline and creating long-term value for shareholders."

 No  Resolution                                                             FOR          %-FOR   AGAINST     %- AGAINST  TOTAL          WITHHELD
 ORDINARY RESOLUTIONS
 1   Receive annual report for FY 2023/24 and FY 2024/25                    678,909,630  99.35%  4,412,566   0.65%       683,322,196    10,000
 2   Approved Directors' Remunerations reports (FY 2023/24 and FY 2024/25)  667,829,929  98.32%  11,436,385  1.68%       679,266,314    4,065,882
 3   Approved Directors' Remuneration policy                                672,863,806  98.47%  10,458,390  1.53%       683,322,196    10,000
 4   Appoint BDO LLP as auditor                                             678,906,816  99.35%  4,415,380   0.65%       683,322,196    10,000
 5   Re-elect Neal Froneman as director                                     678,904,696  99.35%  4,417,500   0.65%       683,322,196    10,000
 6   Re-elect Sajjad Sabur as director                                      678,904,696  99.35%  4,417,500   0.65%       683,322,196    10,000
 7   Re-elect John Wallington as director                                   678,904,696  99.35%  4,417,500   0.65%        683,322,196   10,000
 8   Re-elect Johan Reeder as director                                      678,904,696  99.35%  4,417,500   0.65%        683,322,196   10,000
 9   Re-elect Theodoros Botoulas as director                                678,904,696  99.35%  4,417,500   0.65%       683,322,196     10,000
 10  Re-elect De Wet Schutte as director                                    678,804,696  99.34%  4,517,500   0.66%       683,322,196    10,000
 11  Approve Long-Term Incentive Plan                                       665,050,617  97.64%  16,071,516  2.36%       681,122,133     2,210,063
 12  General authority to allot shares                                      664,862,708  97.30%  18,459,488  2.70%       683,322,196    10,000
 13  Allot shares in relation to projects                                   669,373,869  97.96%  13,948,327  2.04%       683,322,196    10,000
 SPECIAL RESOLUTIONS
 14  Disapplication of pre-emption relating to Resolution 12                666,685,265  97.57%  16,636,931  2.43%       683,322,196    10,000
 15  Disapplication of pre-emption relating to Resolution 13                667,163,806  97.64%  16,158,390  2.36%       683,322,196    10,000

 

ENDS

About Neo Energy Metals plc

Neo Energy Metals plc is a uranium and gold company listed on the London Stock
Exchange Main Market (LSE: NEO) and the A2X Markets (A2X: NEO), with a JSE
Main Board listing targeted for 2026. The Company has secured two uranium
projects in South Africa with a combined JORC- and SAMREC-compliant resource
of 31.5 million pounds ("Mlb") of uranium and 1.2 million ounces ("Moz") of
gold.

New Beisa Node - Free State Goldfields

The New Beisa Uranium/Gold Project, to be known as the New Beisa Node, is a
brownfields uranium and gold development located on the Beatrix 4 shaft
property near Virginia in the Free State Goldfields, one of the highest-grade
uranium-bearing regions in the world.

The project is being acquired from Sibanye-Stillwater, which operated the
Beatrix 4 shaft complex until 2022 and will have a significant shareholding in
Neo Energy.

The asset carries more than US$500 million in historical capital investment
and benefits from existing surface infrastructure including a headgear and
winding systems, a gold processing plant with 120,000 tonne-per-month milling
capacity, primary ventilation, a tailings storage facility and all major
utilities. Underground development is in place, with the Beisa Reef accessible
from the existing shaft at depths of 300 to 1,000 metres.

Measured and Indicated resources stand at 26.8Mlb of uranium at 1,100ppm and
1.2Moz of gold at 3.27 g/t (SAMREC Code, 2016).

Initial annual production is targeted at approximately 810,000Mlb uranium and
52,000 ounces of gold, at an all-in sustaining cost below US$30 per pound
uranium equivalent after gold credits, with an estimated mine life of 17 years
on current Measured and Indicated resources.

The Beatrix Mining Right is being transferred to Neo Energy under Section 11
of the Mineral Resources and Petroleum Development Act; ministerial consent is
required on or before 6 December 2026 with first production targeted for
December 2027.

Henkries Node - Northern Cape

The Henkries Uranium Project, to be known as The Henkries Node, is a
near-surface, palaeochannel-hosted uranium deposit in the Northern Cape
Province. Mineralisation occurs in unconsolidated sands from surface to a
maximum depth of eight metres, requiring no drilling or blasting.

JORC compliant resources total 4.7Mlb of uranium at an average grade of
399ppm, with 25 kilometres of identified palaeochannel remaining undrilled on
the licence area.

The process route - conventional acid leach to yellowcake - has been proven
through an Anglo-American pilot plant that processed more than 200 test pits
at a cost of over US$30 million.

A 2024 Feasibility Study for the Henkries project indicates annual production
of approximately 580,000lbs of uranium at a cash cost of approximately
US$33/lb, with an NPV (8%) of US$60 million and an IRR in excess of 25% at
US$85/lb. Total initial capital requirement is approximately US$65 million

Enquiries

 Neo Energy Metals plc

 Theo Botoulas, Chief Executive Officer                via james.duncan@neoenergymetals.com (mailto:james.duncan@neoenergymetals.com)

 De Wet Schutte, Chief Financial Officer               +27 (0) 79 336 4010

 James Duncan, Investor Relations and Communications

 Financial PR / Investor Relations                     +44 (0) 20 7920 3150

 Tavistock                                             neoenergymetals@tavistock.co.uk (mailto:neoenergymetals@tavistock.co.uk)

 Jos Simson / Gareth Tredway

 Corporate Advisor                                     +27 (0) 11 480 8500

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

 Michelle Krastanov

 

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