REG - Neo Energy Metals - Sustainability Operations Update

Neo Energy MetalsAnnouncement

12/12/2023 11:00

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RNS Number : 5043W  Neo Energy Metals PLC  12 December 2023

Neo Energy Metals plc / EPIC: NEO / Market: Main Market of the London Stock
Exchange

 

12 December 2023

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Sustainability Operations Update

 

Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased
to provide an operations update regarding its sustainability strategy at its
advanced Henkries Uranium Project ('Henkries' or the 'Project') in the
Northern Cape of the Republic of South Africa.

 

OVERVIEW

·    Environmental Impact Assessment ('EIA') and Tailings Storage Facility
('TSF') design enquiries issued and appointment of specialist consultants
expected later this month.

·    EIA and TSF workstreams to then commence early in Q1 2024.

·    Commenced engagement with local communities including discussions
regarding land use, sponsorship of local community activities and initiatives
which will best serve local stakeholders.

·    Commitment to contribute to the regional "Feeding Programmes"
established in the Northern Cape to combat malnutrition in remote
communities.

·    Significant in-company expertise to be leveraged to support the
development and implementation of best-in-class ESG strategies.

 

Neo Energy CEO Sean Heathcote said, "We recognise the importance of
establishing an advanced ESG framework that successfully balances the
sustainable economic benefits of developing Henkries to all stakeholders.
Accordingly, we intend to develop a best-in-class Sustainable Mine Plan that
promotes lasting, positive environmental and social outcomes for the areas in
which we will operate.

 

"To achieve this, we are focused on working with leading consultants that
share our vision and values and building relationships with the local
communities to establish a sustainable path forward.  We look forward to
providing further details as consultants are appointed and these workstreams
advance."

 

DETAILS

As part of its plans to progress its Henkries Uranium Project ('Henkries' or
the 'Project') towards production, the Company recognises the importance of
impelmenting an advanced Sustainable Mining Plan focused on reducing its
climate impact and creating enduring value for all stakeholders including the
local communities in which it operates.

 

The Environmental Impact Assessment will become an effective tool for
developing sustainable guidelines for the Company's operations at Henkries and
accordingly enquiries have been issued with the study anticipated to commence
in early 2024. The Tailings Storage Facility design enquiries have also been
issued with similar timelines expected.  Both studies will be incorporated
into the updated feasibility and mine development study work that has already
commenced.

 

Rather than recreating support schemes used in other regions on other
projects, Neo is actively engaging with local communities and municipalities
to best understand what initiatives will best serve local stakeholders'
needs.  In line with this approach and recognising the importance of local
engagement in the Project's development, the Company's Regional Manager will
lead the community liaison activities until the Project is advanced to a stage
that warrants the appointment of a full time representative.

 

Efforts towards building effective and longstanding engagement with the local
community have already commenced, including discussions regarding land use and
the sponsorship of local community activities.  Furthermore, Neo aims to
contribute to the regional "Feeding Programmes" established in the Northern
Cape to combat malnutrition in remote communities.

 

Notably, the Company aims to draw on its own significant experience as it
builds out its ESG strategies.  Non-Executive Director, Jackline Muchai,
project manages the activities of the Mayflower Children's Foundation, an
organisation that aims to improve the education, health, and wellbeing of
African children through a variety of programmes in East Africa.
Additionally, the CEO of cornerstone investor Q Global Commodities ('QGC'),
Quinton van der Burgh, through his foundation, QVDBF and in association with
and ownership in Generosity Water, has provide communities and schools
throughout Southern Africa with access to safe and clean drinking water and
supports other initiatives including addressing the skill gap in
underprivileged communities and assisting selected applicants with the support
they need to rebuild their lives, from settling credit card debt, to paying
for operations or schooling.

 

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

 Sean Heathcote    CEO                      sean@neoenergymetals.com

                   Neo Energy Metals plc

 Paul Dulieu       Financial PR             neo@stbridespartners.co.uk

 Isabel de Salis   St Brides Partners Ltd

 Isabelle Morris

 

 

Notes

Neo Energy Metals plc aims to become an important supplier to the fast-growing
uranium sector.  Its initial focus is on its 70% owned Henkries Uranium
Project, an advanced, low-cost uranium project in the Northern Cape Province
of South Africa with a clear pathway to production. +US$30m of historical
exploration, drilling, test pitting and mining, metallurgical test-work and
pilot plant work has been undertaken at the Project, culminating in a
published feasibility study.

 

Headquartered in Nairobi, Kenya, Neo Energy is now focused on increasing the
mineral resources at Henkries from the current estimated 4.7 million pounds of
uranium, (which is highly probable as less than 10% of prospective ground is
fully tested), and completing an updated feasibility study ahead of reaching a
development decision by November 2025.

 

Led by a proven board and management team with uranium and other mineral
project development experience in Southern Africa, Neo Energy's strategy is
layered on a two-year development approach to generate cashflow from Henkries
with a view towards building a longer term exploration and portfolio growth
strategy to develop the highly prospective Northern Cape Region of South
Africa and, potentially, broader regional expansion into energy metal property
holdings globally.

 

The team includes:

·    Jason Brewer, Non-Executive Chairman: c.30 years' experience in
international mining, financial markets, and investment banking with a
particular focus in Africa.

·    Sean Heathcote, CEO: +30 years' experience in the mining and
exploration industry in Africa across a broad range of commodities.

·    Jackline Muchai, Non-Executive Director: one of the few Kenyan women
serving on a board within London's Main Market on the London Stock Exchange,
and CEO of Gathoni Muchai Investments.

·    Bongani Raziya, Non-Executive Director: +20 years' experience in oil
and gas and mining in Africa with various directorships held in
well-established profitable companies.

·    James Longley, Non-Executive Director: +30 years' experience in
finance, whose career has been focused on venture capital, private equity and
building growth companies.

·    Charles Tatnall, Non-Executive Director: a seasoned advisor and
fundraiser, specialising in small and medium-sized enterprises across diverse
industries.

 

 

 

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