RE: 302,572,669 shares traded today22 Apr 2026 20:55
Was doing some modelling today with AI, my concern would be a run to 1.5 before I’m in.
0.8p to 1.2p
If today’s excitement fades and the market treats the board change as cosmetic. This can happen if there is no fast follow-through.
1.5p to 2.5p
Most plausible “real” rerating zone if governance improves, suspension stigma fades, and Henkries/Beisa approvals stay on schedule. That is the zone where NEO starts being repriced as a legitimate development story.
3p to 5p
Achievable bull case if Beisa completes cleanly, Sibanye’s role becomes tangible, and the market starts underwriting financing plus a 2027 production path.
5p+
Possible only if the company moves from “permitted and funded” into “institutionally sponsored producer platform” territory, with uranium sentiment supportive and dilution contained. That is not impossible, but it is not the “real” near-term case yet. The only reason to keep it in mind is that old broker sensitivity work on Henkries alone showed much higher per-share values under stronger uranium-price and resource-expansion assumptions, even before assigning real value to Beisa.