Member Info for affc21

Thanks for your video link Optimistic,

Almost missed it, so thought it's worth reposting:

LinkedIn video 19 May 2026 22:33

Saw this posted by Neo on LinkedIn - very professional and informative. Hopefully the link works.

https://www.linkedin.com/posts/neoenergymetals-newbeisa-goldmining-ugcPost-7462416380622118913-9XtL?utm_source=social_share_send&utm_medium=ios_app&rcm=ACoAABAMuk8BDVJ-MAf5t1PGlT-lDnlFGy-8OgI&utm_campaign=copy_link

Just as an aside, the total combined in ground value of the Uranium and Gold resources at Beisa and Henkries is roughly US$8 billion.

Must stipulate though that there is no guarantee that all of the resources will be extracted from the ground.

Interesting nonetheless

Https://www.investormeetcompany.com/meetings/annual-general-meeting-230

Https://youtu.be/utLjj0xyj40?si=weIikTWKOKMmybtA

Dickie,

Yes good day, even when it rains (on the heavy side), just head for the nearest pub😀

That's me done for today, off out now for a few coffee's at the Leek town Scooter Fest

All the best and enjoy your Sunday

The more I read, the more enticing I am finding NEO as an investment

And Thanks must go for everyone's contributions here, especially FTJNY whose posting initially perked my interest here, cheers bud...

Henkries

Cash cost of approximately US$33/lb

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$60m and an IRR in excess of 25% at US$85/lb. Total initial capital requirement is approximately US$65m.

New Beisa

Low-cost operation, <US$30/lb cash-cost after gold credits (Using an average Au price US$/oz 3200).

We highlight the low-cost attractiveness of the Beisa project area. The low-cost characteristic of the project derives from its relatively shallow nature as well as from a gold by-credit. This gold credit helps drive our modelled LOM operating margin of c.50% for the Beisa Project. Besides the gold credit, we highlight the relatively shallow mining depth that further contributes to the project’s attractive economics. Indeed, the relatively shallow uranium resources in the Beisa Reef at the Beisa Uranium Project will be mined by lateral development from the main Beatrix 4 shaft at depths of only 350m to 450m.

And just to add to your post Ghost, a couple of charts that really emphasizes the U3O8 deficit as shown on X:

Mind the [gaping uranium supply] gap...

https://x.com/i/status/2055005531530568082

Brokers notes are available via

NEO Energy Metals

Brokers Valuation page

https://neoenergymetals.com/brokers-valuation

Then just follow the link which takes you to RESEARCH TREE website,

The SC brokers note is then free to download once you have signed up with the Research Tree free account.

Market Cap is now

£26.175m at 1p per share and after taking into account the 19 January 2026 fund raise and issue of shares.

Not sure what the EV is now though

Other info taken from first page:

Shares in issue 2209.1m

Market Cap £15.2m

Net cash/(debt) £1.0m

Enterprise Value £14.3m

“Neo Energy’s current enterprise value implies an in-situ valuation of its uranium resources of just US$0.15 per lb vs peers at c.US$14/lb”

Presumably that was based on the Enterprise Value of £14.2m as per SC note dated 18 December 2025.

FTJNY, you also noticed those figures

SC are "assuming a uranium price of US$85/lb, a gold price of US$3200/oz" as per broker note.

Latest prices:

Uranium spot price is US$86/lb

Gold price is US$4550/oz

There has been a few company updates since the release of the SC INITIATION brokers note, which will need to be taken account of...

Good luck all

Sorry but unable to share the SC brokers note, because my personal email address is watermarked across every page

Thought the first few pages of the SC broker note was worth posting to get an understanding of their analysis and reasoning of their valuation conclusion

Header date should read - 18 December 2025