REG - Neo Energy Metals - Appointment of New Adviser for South Africa

Neo Energy MetalsAnnouncement

12/06/2024 08:00

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RNS Number : 1163S  Neo Energy Metals PLC  12 June 2024

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

 

12 June 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Appointment of AcaciaCap Advisors Proprietary Limited ("AcaciaCap") as
Corporate Advisor in South Africa

 

Neo Energy Metals plc the near term, low-cost uranium developer, is pleased to
announce the appointment of AcaciaCap as the Company's corporate advisor in
South Africa.

 

AcaciaCap will be assisting the Company with its growth strategy in South
Africa including the mine development and production focused activities at the
Henkries Uranium Mine and in advising on potential uranium mine and advanced
project acquisitions.

 

Highlights

·    AcaciaCap appointed as corporate advisors in South Africa

·    AcaciaCap is accredited by the Johannesburg Stock Exchange as an
Independent Expert

·    AcaciaCap will offer their expertise to the Company by assisting with
its planned development and operation of the Henkries Uranium Mine and
advising on several potential uranium mine purchases and advanced project
acquisitions in the region

·    The Company's primary focus remains on advancing the Henkries Uranium
Project to production, as indicated by the recent independent study update
announced 6 June 2024, of the previously completed feasibility study, that
confirmed the low operating and capital costs and robust project economics

·    The Company, however, can confirm, that in parallel to its work on
the Henkries Uranium Project, it is also completing due diligence and
negotiating terms for potential additional advanced uranium mine/project
acquisitions

·    The Board believes that based on its primary listing on the London
Stock Exchange targeting an African focussed portfolio, it will be well
positioned to unlock South Africa's significant uranium reserves and the
broader uranium mining sector.  Thereby cementing Neo Energy as one of
Africa's major uranium mine operators

·    South Africa boasts Africa's second-largest uranium resources after
Namibia and has been a significant producer of uranium since 1952. Globally,
it ranks fifth, after Australia, Kazakhstan, Canada and Russia - in terms of
total uranium reserves.

·    The Witwatersrand Basin is currently the only active uranium
producing region in South Africa, where uranium is extracted as a by-product
of gold mining.  The uranium resources in the region comprise both
underground operations and associated historical tailings storage facilities.

 

Neo Energy CEO Sean Heathcote said,

 

"We are delighted to be working with AcaciaCap as our corporate advisor, this
follows working alongside the same team that allowed the Company to fast track
a dual listing on the A2X Market.

 

"AcaciaCap will play a crucial role in the Company's strategic endeavours,
particularly in navigating the identification and negotiation of potential
acquisitions in the region.

 

"While our focus remains on advancing the Henkries Uranium Mine towards
production, we are actively pursuing opportunities to expand our portfolio
through diligent technical reviews and advanced negotiations. This is in line
with the Company's strategy to in establish Neo Energy as South Africa's
leading uranium mining company and one of Africa's major uranium mine
operators."

 

About AcaciaCap Advisors Pty Ltd

AcaciaCap was established over 22 years ago. It boasts a professional and
highly experienced team and offers a comprehensive range of integrated
corporate finance and listing-related advisory services to a diverse array of
entrepreneurial businesses spanning various industries.

 

AcaciaCap is accredited by the Johannesburg Stock Exchange as an Independent
Expert and primarily serves customers in South Africa.

 

Specialising in sponsor and designated advisor services for JSE-listed
companies, as well as offering listing services for A2X Markets and the Cape
Town Stock Exchange, their expertise covers business finance, mergers and
acquisitions, capital raising, and valuation.

 

Find out more about AcaciaCap here: www.acaciacap.co.za
(http://www.acaciacap.co.za)

 

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 holds up to a
70% stake in the Henkries Uranium Mine, an advanced, low-cost mine located in
South Africa's Northern Cape Province. It has been estimated by some that the
historical investment in the project was over US$30 million in exploration and
feasibility studies, Neo Energy aims to increase the project's mineral
resources and complete an updated feasibility study ahead of a determination
of the development schedule at the end of 2024 to bring Henkries into
production.

 

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 a two-year 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. Additionally, the company's
shares are 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.

 

By Order of the Board

ENDS

 

For Enquiries Contact:

 Sean Heathcote   Chief Executive Officer  sean@neoenergymetals.com
 Jason Brewer     Executive Chairman       jason@neoenergymetals.com
 Faith Kinyanjui  Investor Relations       faith@neoenergymetals.com

 

 

Tel: +44 (0) 20 7236 1177

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