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No there was no time given, but if there is any new news they might get that out in an RNS in the morning.

So been 2days of decent gains. Maybe Mr market is listening now but this is still way undervalued given the infrastructure that NEO have to mine cheaply & quickly.

That for me is as big a draw as the £17bn of assets in the ground.

I remember an interview with Jason from around October where he mentioned using the by product gold as a method of raising funds. If memory serves me well it was an example of 10,000oz for $25m.

Looking forward to tomorrow’s interview.

GLA

Afternoon all, for anyone interested the app investing.com gives live pricing & it’s free.

Adverts only downside.

Back to Neo & saw an interesting point made by JB a couple of days ago ref Beisa mine Approx 5.9Mlbs of “immediately mineable uranium & 260,000oz gold is available once shaft and refurbishment work is completed. “

We just need to wait, Mr market has not appreciated the 09/12 RNS with the infrastructure purchase this moves NEO far close & much quicker/cheaper into being a miner not explorer.

Also back in October they mentioned a Q4 review of the JORC to include KMP process. Not sure if this has been cancelled but it would definitely help with the settlement.

Heeded even....DOH!

HNY

Someone headed your advice,

31-Dec-24 10:45:37 0.80 9,250,000 Unknown* 0.70 0.75 74.00k O

31-Dec-24 10:46:05 0.795 9,250,000 Unknown* 0.70 0.75 73.54k O

GLA & HNY

Just got in my take. Another great RNS especially with the comparison to the rook1 project.

This really highlights just how undervalued NEO is.

As I mentioned yesterday Mr market is still valuing NEO as an AIM explorer not a near term producer.

So we have independent valuation for Beisa Q1 but there are likely to be other milestones to pass before we hear back.

Financing is of course one, even in his latest tweets Jason has mentioned they still intend to finance using the gold as the by-product.

The last RNS mentioned 100,000zs of gold production annually over an initial 20-year mine life. Jason in previous interviews has mentioned using 10,000zs as a commodity based finance deal which S-Stillwater have just done with US firm Franco-Nevada.

Then there is the tailings dam with 40mt of material inc gold & Uranium.

All this is before we mention Henkries, which is shallow open pit mining, meaning low cost & with the inspections already taking place this could well be in production by the 2025 year end.

Lots of news to come.

GLA

Jason has posted some cracking information this morning in regards to the Beisa mine on twitter.

For those who are not on there I have posted some links below.

Some of the images are definitely new so I am wondering if there is going to be a further update coming.

His last tweet also had the following quote.

"We are acquiring a major mine, substantial resources and a projected mine life of between 20 to 40 years and which will not be funded by equity.

So whilst I, as a major shareholder am clearly disappointed with the short term movement, I am 100% confident in the future. 100%"

I will be adding over the next couple of weeks. This looks an incredible opportunity to buy while NEO are still being priced as an explorer.

Often explorers come unstuck when they start to build a mine.

Good examples of this can be found with Emmerson who tried to build a potash mine & have been held up for 3yrs on permitting grounds (which are unlikely to be ever granted).

Another is Atlantic Lithium currently held up on ratification.

This is before actually trying to build the mine which takes years.

Neo have neither of these hurdles to jump. The shaft & processing plant are in place.

The shaft gives access to 25km north to south and with resources of 117Mlbs of uranium and over 5.3Mozs of gold.

https://x.com/JB_MiningAfrica/status/1873263832107499993

https://x.com/JB_MiningAfrica/status/1873270302698074557

https://x.com/JB_MiningAfrica/status/1873272927262757143

GLA

It looks as though NEO's largest shareholder Sibabye-stillwater has just entered into a similar financial transaction to what NEO have been proposing but on a much larger scale. I wonder if Franco-Nevada corp have any interest in doing business with NEO using their gold?

https://www.miningreview.com/news/sibanye-stillwaters-500m-deal-to-boost-gold-and-platinum-operations/

Dsymons, "Finance will be dilutive, highly dilutive, if at all, if he can raise the funds, which at the moment is not positive"

Where does this info come from? An official RNS in August told holders that the finance would be non-dilutive, this is also mentioned by JB numerous times in recent interviews.

As mentioned previously NEO needed proof that they could be up & running quickly, having the mining infrastructure as in the RNS 10th Dec would be a pre requisite to finalising a finance package reliant on a commodity (gold), funding deal.

Tomaaa, "JB remains conspicuous by his absence while the SP falls day after day."

What are you taking about? JB is on X almost daily commenting on NEO add to that we have had an official RNS telling holders that Hendriks is going to be a fast track uranium mine.

Either both of you are in way too deep or you really don't have experience of mining share in Africa. Patience is needed while the finance is arranged. Making stuff up without facts to back it up makes you look foolish.

How can they buy when they are negotiating funding???

This like the last few months will be a closed period for sure.

Stringer01

“ The Company is pleased to confirm that it is negotiating a non-dilutive debt facility with AUO and several other parties, that it proposes to utilise to further fund its working capital requirements, accelerate the development of its Henkries Uranium Project and further assist with its growth strategy in South Africa”

From August 13th RNS.

The beauty about Henkries is that the Uranium is very shallow with some only 6m below ground, this makes it far easier to mine via open pit methods & much faster especially as NEO are already in the right neighbourhood & regulatory work like today’s announcement is moving at pace.

Quote "There’s nothing more to it yes announce these deals, but it’s pointless if you can’t raise the money to fund them"

The last RNS which tied in the Beartix shaft & infrastructure IMO was needed before the commodity based funding could be announced. Within the RNS there is also a paragraph which relates to the funding (see below).

If NEO (as understood), intend to use the gold as the commodity then any financial backers would want to see proof that payback could commence relatively quickly.

"4️⃣As part of Sibanye-Stillwater's due diligence on the Company, they completed a review of our financing plans and were satisfied with what was proposed and our ability to complete the financial settlement once all conditions are satisfied"

I would expect the finance package to be announced soon & possible production from H2 2026 (fingers crossed).

The infrastructure for anyone who hasn't seen it is to say the least impressive & a bonus is it also comes with the tailings dam.

https://www.miningweekly.com/article/neo-energy-acquires-sibanye-stillwaters-beatrix-4-shaft-including-the-beisa-uranium-project-2024-12-09

Https://www.youtube.com/watch?v=GKVFYL06yPg

This goes into last weeks deal in a bit more detail. Worth a listen.

Another great snippet from Jason,

"We have also acquired the tailings dam which has an estimated + 40Mt of material.

As per the RNS these tailings have “the potential to be reprocessed to recover both uranium and gold and this is under review as a means of generating early cashflow”

Ali, great post. I think the other bit which stands out is the mining infrastructure that NEO have purchased with this mine.

Take a look at it here,

https://x.com/JB_MiningAfrica/status/1866167783584633112

That kit is worth hundreds of millions, not forgetting the shaft is already sunk a task that can take months/years to complete.

It also cuts the time in which NEO cast start producing.

The parties interested in financing NEO wanted to ensure the money proposed would be enough to drive the project to production, this infrastructure will have been something that would have been a worry.

Not any more. Which opens the doors for a funding RNS to follow.

GLA

Well done Jason, not only does this give us more resource it also gives us the infrastructure & permits to process the material.

Plenty of early stage miners get mired down for years waiting for the paperwork & then having to build the mining infrastructure. This deal will certainly fast track most of that.

Https://www.youtube.com/watch?v=J3dvn-QWqXY

This article from May certainly makes it sound like production could come 2025, permit dependent.

=================

"Advancing Henkries

The next step for the new kid on the mining block is to increase the size of the resource by drilling another 6 500 m, updating the mineral resource estimate (MRE) and the projects’ capital and operating costs, as it targets a development decision by the “end of 2024 or earlier”.

After completing a Preliminary Economic Assessment, Neo Energy will initiate a full feasibility study, which is scheduled for completion before year-end. An environmental impact assessment (EIA) will run in parallel and is earmarked for completion early next year, after which the company will apply for a mining right.

“After updating the PEA, we will be engaging with our key investors to determine their appetite for fast-tracking project development to significantly shorten the above timelines.”

Despite the DMRE’s snail’s pace in awarding mining licences, Heathcote remains optimistic, stating that “in our worst-case scenario, we anticipate the award of a mining right by 2025 and a move into construction and production shortly thereafter.”

===========================

https://www.crown.co.za/modern-mining/industry-news/28306-uranium-rebound-neo-energy-advances-henkries-project

Hi all, a new write up for NEO can be found below.

Nothing new in there really.

While researching NEO (I only invested this month), I found the Henkries deposit interesting. It should be really easy to mine (open pit), with the Uranium being at such a shallow depth, meaning start up would be much simpler & quicker to mine. Possibility for it to be producing by the end of next year easily.

If NEO can get the funding over the line this could really motor

https://www.share-talk.com/top-12-small-cap-stocks-to-watch-in-2025-part-2-kod-mnrg-neo-ondo-polb-ree/