Neo Energy Metals Plc
Key information
Key information
Sector
Industrial Metals and Mining
Website
Close date
Delivery
Placing price
Last price
Discount
Amount raised
0.9p
0.8 p
0 %
£9,000,000
Company description
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 acquisition of a 100% interest in the Beisa North and Beisa South Uranium and Gold Projects, together with a proposed transaction with Sibanye-Stillwater Limited for the acquisition of a 100% interest in the Beatrix 4 mine and shaft complex, the processing plant complex and associated infrastructure in the Witwatersrand Basin, Free State Province, South Africa. The combined projects’ total SAMREC Code-compliant resource base comprises approximately 117 million pounds of U₃O₈ and over 5 million ounces of gold.
Use of proceeds
The Placing proceeds will be used by the Company's Executive Management team to fund the costs under the 4-phase implementation assessment programme that is underway and is considered sufficient to fully fund the Company's working capital requirements through to completion of the Beisa Mine acquisition from Sibanye-Stillwater.
Company announcement
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