Member Info for Beyondthesea

"Botoulas personally spearheaded the high-stakes corporate negotiations with Sibanye-Stillwater to execute the conditional acquisition of the Beisa Uranium and Gold Project Update on Beisa Uranium and Gold Mine Acquisition, 12 December"

This is incorrect, Theo joined May 25 the Beisa deal was agreed Dec 2024.

Not a lot like JB but.... he was the man who put the deal to buy the Beisa from SS.

Theo is a great CEO though & the right person to guide NEO to production.

Hi all. We should be seeing at least one RNS this week.

When the Henkries mining application went in Neo had 60 days to submit B-BBEE & a water use license. So that’s due by Friday.

Secondly the mining rights licensing system which is been trialed in Western Cape is due to be rolled out it’s 2nd phase which includes free state where Beisa is located, with a target date being the end of June.

With the section 102 awaiting approval this might well be wrapped up with the digital system implementation.

So hopefully news on two fronts.

GLA

Kojak indeed it works well for Neo. The same applies to SA tax rules, the whole $90 investment can be set against the tax in year one. Handy when they will be trying to iron out issues.

There is so much potential here, Beisa has a 17yr life +another 50yrs with N&S.

Then there is Henkries, Neo can fund the project via Beisa profits. This is open pit sand with the U being only 6-8m down. A JCB is all you need to mine it.

That strike is over 46km long with a large metallic anomaly within it, that could potentially be lead, copper or Lithium (Marella’s lithium mine is close by).

Yet another string to Neo’s bow.

The potential is jaw dropping.

Meanwhile we wait, the S102 is being held up due to some farms not being on the original paperwork this has been known for a while (December 25), so hopefully it will be resolved soon. As far as I am aware no other issues just paperwork & bureaucracy.

SS will hold somewhere between 20-30% once the deal is officially concluded, but there are other ways that they can be satisfied with the deal.

Firstly they are going to have a significant influence on the BOD NF as an ex SS CEO as chairman & two further board members, meaning Neo will be alined with SS.

Secondly the 5% royalty on the U cannot be underestimated.

Last bit aside from the equity allocation they are also going to receive £11m cash.

I have said this before this deal is a great deal for both parties.

Equity funding can be bad but with SS the shares are in safe hands, they are not going to churn their stake away. They will have via the BOD influence & don’t forget by having this stake in Neo they also have an interest in Henkries. We don’t discuss Henkries much but that is so easy to mine & will also become a great asset for Neo & SS

Directors cannot currently buy as Neo are in a closed period currently (could be news regarding s102 & s11).

They will buy once they are able to.

A good read up for investors who are not familiar with the transfer process.

https://discoveryalert.com.au/neo-energy-dmpr-approvals-beatrix-4-shaft-uranium-2026/

Lexicon, JB is still part of the Telegram group, he posted not long after the new board were announced saying he was sticking around as a shareholder & well he should JB made the deal with SS that type of deal isn't easy to pull off.

The selling in this last week is probably CMC off loading their 10m warrents.

Meanwhile we all get an opportunity to buy in & a fantastic price.

GLA

Rouley, just looked back on your past posts & yes I believe it was your post I read.

Fair play for asking the Q you did indeed DYOR.

Cheers

Rouley, you may have read that incorrectly. I have read & understand the value to be based on, 7.5% of share value relates to the nominal share value 0.00001 (total share capital is around £265k).

In other words it is not linked to the current Mcap or SP.

Around 4 billion to 4.5 billion shares will be in issue once the Beisa deal is complete.

Funding the mine rehabilitation & the payment to purchase the mine will most likely be via equity & debt with debt being the major contributor.

Previously streaming for gold & off take agreements for the U have been mooted as ways to raise the debt.

Beisa alone will be producing profits of $225-$275 per annum & th4 billion to 4.5 billion shares ats without production from Henkries.

Using assumptions (base operating profit ~US$254M, 4.4 billion shares post-deal, 5x cash flow multiple), Neo could see a theoretical share price in the region of ~19–23p in a steady-state scenario. Again without Henkries.

GL

Jontfsi, the new quoted figures are for Beisa central, Besia N&S make up the rest but....

Beisa N&S are not needed for a long while as there is 17yrs worth of mining just in the central part.

Ghost, the original S11 was applied for by SS back in May 2025 but I understand there was an issue or misunderstanding were they thought they could transfer the mining right. I t actually needed splitting as is the current process then Neo need to apply for the Beisa node.

As far as I understand this had nothing to do with NEO.

Hopefully it will now be sorted in the weeks to come.

Hi, I am not at my desk so no access to the RNS, but I think the share amount is correct, remember that is only 1/2 of the deal the other part involves Neo paying around $11m in cash to SS.

If the deal was variable the cash consideration would also rise.

The obvious solution is if SS takes the $11m in shares which would then push their shareholding up.

This should not be a point of confusion & does not need clearing up, this is from the original RNS with the terms of the deal.

SS will receive 995,454,544 new ordinary shares, no more & no less.

" Under the Option Agreement, the Loan Notes will be transferred from Sibanye-Stillwater to the Company, following exercise of the option by either party and the issue of 995,454,544 new ordinary shares to Sibanye-Stillwater at an issue price of 1.10 pence per share"

Their share amount has not changed but the % has changed due to the amount of shares now in circulation has changed.

Forgive me for butting in but the calculation in regards to SS share is all down to the original deal,

"· Under the Option Agreement, the Loan Notes will be transferred from Sibanye-Stillwater to the Company, following exercise of the option by either party and the issue of 995,454,544 new ordinary shares to Sibanye-Stillwater at an issue price of 1.10 pence per share"

Their share amount has not changed but the % has changed due to the amount of shares now in circulation.

Meanwhile, great to see the new board cracking on, & changing strategy from gold & U to just gold is a really smart move.

The initial costs are lower without the U plant ($30-50m), & there is already around 400,000 oz already developed waiting to be pulled out of the ground.

GLA

Target date for initial production is Dec 27.

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.

"upon receipt" is the key here, SS need the S11 as they are splitting the mining right from the other mines close by.

Once split NEO can apply for the S11 to mine, that isn't expected until near the end of the year.

The reasons for this delay appears to be a c0ck up on SS side, when the transfer was originally submitted last May.

Https://www.sibanyestillwater.com/news-investors/news/transactions/franco-nevada-stream/

New chairman of Neo Neil Froneman was CEO at Sibanye when this deal went through.

Indeed, AISC: Below US$30/lb uranium equivalent (net of gold by-product credits).

operating profit pre tax, royalties, equity/debt payments.

$225-$300m.

Using assumptions (base operating profit ~US$254M, 4.4 billion shares post-deal, 5x cash flow multiple), Neo could see a theoretical share price in the region of ~19–23p in a steady-state scenario.

US$1.0B EV ÷ 4.4B shares ≈ US$0.227 per share.

Not a bad 22x bag.

Expect the shares in issue to be around 4.4bn once the Beisa deal is finalised.

A lot yes but the economics of just Beisa are incredibly good.

Using the AISC below $30 lb allows us to get an idea of annual operating profits.

Annual production is targeted at approximately 810,000 pounds of uranium and 52,000 ounces of gold"

based on the targets and the current gold price of $4,709.64, the New Beisa Mine is estimated to produce a gross annual profit of approximately $274 million.

Implied Valuation,

Using a conservative 5x cash flow multiple on the estimated $274m profit, the New Beisa Mine alone could support a market cap of $1.37 billion.

At a more aggressive 8x multiple (common in high-demand cycles), this could reach $2.19 billion.

This is without Henkires & a predicted life of 17yrs.

JB often mentioned being offered $25 for 10oz of gold back in 24. when gold was floating around $2400 & SS completed a gold streaming agreement with Franco-Nevada back in 24.

Frontman was CEO, so well positioned given his ties to NEO & SS

https://www.mining-technology.com/news/sibanye-stillwater-500m-streaming-deal-franco-nevada/