Member Info for Beyondthesea

"At the moment the management are just talk."

What?

Just because Neo were suspended does not mean progress has not been made.

Formal Documents Signed for Henkries South Uranium

Key Conditions Satisfied on B-BBEE Transaction

Key SARB Approvals for Beisa Uranium Acquisition

Applications Lodged for Key Regulator Approvals

Appointment of New South African based CEO (Theo who actually has worked on this very shaft)

Appointment of New CFO and Finance Director

Waiting is part of being an investor & the main thing we are awaiting is the formal transfer of the Beisa mine.

This is not in Neo's or SS hands, we await the minister of mines to authorise the transfer.

Once this is complete we can really get going.

We already know, gold streaming & Uranium off take agreements will be the main routes to funding the $120m needed to refurbish the shaft & add a Uranium plant.

SSC group are the mine contractors who are also ready to go once we get the go ahead.

Tomorrow starts a new quarter as well as a new year, I am sure both will be good for Neo investors.

Happy New Year all.

With the latest broker update using the gold price of $3200 I thought it might be interesting to use the same formula but with gold at $4519 per oz,

Group NPV Estimation at $4,519/oz Gold

The tweeted sensitivity for Neo Energy Metals' group NPV (likely post-tax, discounted cash flow valuation for their uranium-gold projects):

Base gold price: US$3,200/oz → Implied base group NPV of US$393 million

(From: +10% to $3,520/oz increases NPV by 20% to $472M → $472M / 1.20 = $393M)

This shows ~2x leverage: a 10% rise in gold price boosts NPV by 20% (driven by gold by-product credits in the Beisa/Beatrix assets).

Linear Extrapolation to $4,519/oz

Gold price increase from base: $4,519 / $3,200 = +41.22%

NPV uplift: (41.22% / 10%) × 20% = +82.43%

Estimated group NPV: $393M × 1.8243 ≈ US$717 million

(Per 1% gold increase ≈ +2% NPV → 41.22% × 2 = +82.43%, same result.)

NAV (Net Asset Value) per Share

NAV approximates group NPV divided by shares outstanding (using basic shares for conservatism).

Shares in issue: ~2.21 billion (latest LSE data as of late 2025)

Using recent GBP/USD rate (~1.348 for conversion):

US$717M ≈ £532 million ($717M / 1.348)

NAV per share: £532M / 2.21B shares ≈ 0.241 GBP (or 24.1 pence)

For context:

Recent share price: ~0.68 GBP (market cap ~£15M)

This implies substantial theoretical upside at these gold levels, though discounted for risks (e.g., execution, funding, approvals for Beisa).

Credit to Grok here, based on the current amount of shares in issue.

This is a brownfield mine so both Uranium & gold have been mined previously. It was originally a Uranium mine before being switched to gold so there should not be any issues licence wise.

The transfer is also relatively straight forward, as the licence to mine just needs to be transferred, the mine was running right up until 2023.

SS will also be involved in this along with SA mining contractors SSE group not forgetting Theo the CEO worked on this very mine.

Well good morning all, nice to see some new positive posters on here.

Hopefully those who wanted out are now out, I told you not to worry about ever coming back.

14p target for this time next year (remember that target is pre production),

my personal target is 5p by April.

GLA

Ali, yes it looks like we are due news, lets hope it's what we are waiting for, news that the transfer has gone through & Beisa belongs to NEO.

Then everything else will fall into place, funding & relisting, SA listing.

Looking forward to good news hopefully before Xmas.

GLA

Https://www.youtube.com/watch?v=lVW73BtJdaA

They did but, ......this is Africa, it requires a minister to sign off on it. It could come this Q but NEO are in the hands of the ministry of mines & the slow speed of African bureaucracy.

Lets hope for this Q, if not cross our fingers for Q1 26.

AFS= Annual financial Statements

FD= financial director

"The Sibanye deal is ongoing – the Section 11/102s were submitted but this too is taking long – Sibanye is driving this process."

Is an interesting line, SS submitted the transfer docs in May as did Neo.

it's the DRME who look at the transfer, then its over to the Mineral and Petroleum Titles Registration Office (MPTRO).

I don't see what SS have to do unless there is a query on either application.

Enjoy the weekend folks. Next week sounds interesting. GLA

Well unless Neo changes the auditor again or decides to go back over the last 3yrs including the reverse takeover that is very, very unlikely.

Come on we both know that.

HarChris, we are not at the end of 2025 yet, hopefully the transfer will be this quarter & funding to be announced shortly after.

If you recall it was 10th Dec 24 when the Beisa Central deal was announced & straight away JB mentioned the deal would not conclude before Q4.

That should have set expectations. Other than funding & the paper work I mentioned below what more could have been done?

I have always been relaxed about this suspension, I am in a good position as I don't need the money & see the value of this deal. Having said that I also understand how frustrating this share would be should you need the money or have lost patience in the company.

Hopefully we hear more news this Q as NEO announced, SS mention Q1 26.

Funding as sure as night is day will follow this, equity & % debt is the interesting part.

Financing aside, a fair bit of work has been done while we have been in suspension.

1, Regulatory Approvals. Summitted by both parties in May.

2, SARB Exchange Control Approvals approved in May.

3, B-BBEE Compliance sorted in March

4, Acquisition of ~6,244 hectares of land and Beatrix 4 infrastructure from Sibanye Gold Proprietary Limited.

What we are waiting for,

1, UK Takeover Code (Rule 9 Waiver)

2, Regulatory Approvals (MPRDA Sections 11 & 102)

3, funding

We have some numties on these boards,

in order not to waste anyone's time it's a reverse takeover so Marula can be listed on Aim.

I can accept negativity from holders he who want out, I understand their frustration, but this cross negativity from folk who want to come hear & moan about another stock is just wasting everyone's time, especially as in this case when they don't understand the RNS.

Don't be so pessimistic, the Beisa transfer is due this quarter. The size of this deal cannot be underestimated. Beisa is huge giving an initial 17yr life before expanding N&S making it a 40yr mining project.

The infrastructure is already there, mining can recommence within the next 18mths.

PS,

When you get bad news on another stock don't spread your pessimism to other boards.

I keep wondering if the $25m for 10k oz is still on the table, given the gold price is this still a decent deal?

My thoughts are yes, avoids dilution also.

Https://www.youtube.com/watch?v=NgmSeAMIU2Y

I think the timelines have got a bit mixed up here.

From what I heard its 18mths to production, not 18mths then another 18mths.

As for cost, I never thought it was going to be less than $80m.

NEO can only start once the approvals have been concluded.

I don't think $100m for Beisa referb is that bad, phase 1 has a 17yr mine life before even thinking of N&S.

Stop panicking ffs.

There is a Q&A the telegram group has a list of Q’s already.

Mcap with the assets & resources at this stage should be around £250m. That’s a good start compared with the £15m (£28m post SS deal), were we are now.

GLA

I am pretty sure that will be covered in the presentation this Wed.