RE: Accounts updated9 Dec 2025 14:38
This is surely gonna go ballistic :
'Energy play
Brewer is also chair of Neo Energy Metals, a London-listed uranium development company that last year agreed to buy the Beatrix 4 shaft from Sibanye-Stillwater for R500m. The proposal is for Neo to develop the Beisa uranium deposit that Beatrix 4 was originally sunk to access, before it was repurposed as a gold mine. “Neo is going to be huge,” said Brewer. “When you look at the old Beatrix 4 shaft uranium-gold mine, I’m pretty excited about what it can do.”
Shares in Neo are 37% lower over 12 months, reflecting a lack of progress in obtaining change of control permits from the South African government. Now would be a good time, given that the uranium market is thriving. The mineral is mostly traded through long-term offtake agreements, but the spot price of between $70 and $80 a pound since about June is clearly incentivising new production.
“Whether the permits can be done before Christmas, I’m not sure,” said Brewer. “When you think about what the project’s going to bring in terms of development there, job creation … it’s the restart of a very significant operation.”
If the deal is concluded, the first uranium production would be in about 18 months.'
GL.