Member Info for justfencing

Mcfirth - definitely not even begun yet .

18-Dec-25 11:53:37 0.65 1,357,312 Buy* 8,823 O

18-Dec-25 11:53:37 0.65 1,348,686 Buy* 8,766 O

18-Dec-25 11:53:37 0.65 1,000,000 Buy* 6,500 O

18-Dec-25 11:53:37 0.65 993,161 Buy* 6,456 O

18-Dec-25 11:49:10 0.688 12,294 Buy* 84.58 O

18-Dec-25 11:41:53 0.688 268 Buy* 1.84 O

18-Dec-25 11:40:00 0.686 1,000,000 Buy* 6,860 O

18-Dec-25 11:34:13 0.659 4,000 Buy* 26.36 O

18-Dec-25 11:32:50 0.69 2,882,544 Buy* 19.89k O

18-Dec-25 11:32:37 0.659 65,000 Buy* 428.35 O

18-Dec-25 11:26:19 0.659 140,447 Buy* 925.55 O

18-Dec-25 11:24:55 0.658 400,000 Buy* 2,632 O

18-Dec-25 11:22:03 0.694 2,865,930 Buy* 19.89k O

18-Dec-25 11:13:53 0.6505 100,000 Buy* 650.50 O

18-Dec-25 11:09:37 0.6505 100,000 Buy* 650.50 O

18-Dec-25 11:07:59 0.652 1,524,663 Buy* 9,941 O

18-Dec-25 11:00:11 0.63 756,000 Buy* 4,763 UT

18-Dec-25 10:59:02 0.6345 7,843 Buy* 49.76 O

18-Dec-25 10:49:09 0.6345 203,240 Buy* 1,290 O

18-Dec-25 10:48:18 0.636 76,355 Buy* 485.62 O

18-Dec-25 10:42:56 0.6369 600,000 Buy* 3,821 O

18-Dec-25 10:41:45 0.638 46,166 Buy* 294.54 O

18-Dec-25 10:39:52 0.64 310,167 Buy* 1,985 O

18-Dec-25 10:39:52 0.648 1,572,308 Buy* 10.19k O

18-Dec-25 10:23:31 0.6589 379,420 Buy* 2,500 O

Summery

In our view, Neo Energy offers investors compelling exposure to the uranium sector via its two advanced

projects in South Africa that together hold a combined c.122M lbs uranium resource as well as a c.5.4M

oz gold resource. The Beisa Projects in the Free State hold c.117M lbs uranium and c.5.4M oz of gold,

and the Henkries Project in the Northern Cape has a uranium resource of 4.7M lbs. We believe investors

should view Neo Energy principally as a uranium play with considerable gold exposure attached to it.

Since the shares were suspended in January 2025, the gold price has strongly outperformed the

uranium price, and we believe investors will potentially now view Neo Energy as a “gold play “of

significance. Our combined FY26 NPV10 estimate for Neo Energy’s two projects is 13.4p/share,

underpinning our NAV of 14p/share which compares favourably to the current share price of just 0.68p.

Neo Energy Metals+

Advanced uranium play with significant

gold kicker

Neo Energy Metals (“Neo Energy”) stands apart as the only uranium company listed on the LSE main

board, with the added benefit of gold exposure. The company’s two main projects in South Africa have

a clear pathway to near-term production. The Beisa project in the Free State is already permitted for

mining and set to commence production in 2H26, subject to financing. The Henkries project, in the

Northern Cape, was extensively drilled by Anglo American who spent $30m completing a PFS on the

project in 1979. We expect a financial term sheet for the Beisa Project by mid-2026 with debt and

streaming the likely route to financing thus avoiding/minimising equity dilution. Our combined NPV

estimate for the two projects is 13.4p/share underpinning our 14p/share group NAV.

Significant upside potential, helped by low development costs: Our work yields a “base case” 2026

NPV10% of $329m or 11.2p/share for the Beisa project. For the Henkries project our model yields

a 2026 NPV10% of $66m or 2.2p/share. Our sensitivity analysis indicates significant upside

potential given the exploration upside at both projects.

Beisa Project benefits from well-developed infrastructure: Neo Energy has moved to consolidate a

117M lbs uranium and 5.4M oz gold official resource as well as associated infrastructure at the

Beisa Projects area. It did this first by acquiring Beisa North and Beisa South and then acquiring

the Beisa Uranium Mine from Stillwater-Sibanye which, along with a mining right, came with the

No.4 Shaft and associated infrastructure already in place. As such, the route to first production at

Beisa is well understood. Less than 10% of the Beisa Projects’ footprint area has been drilled and

we believe there is significant resource upside potential from further exploration drilling.

Routes to financing are credible, potential anchor financier exists: We believe debt and royalty

streaming are credible options for financing the development at Beisa. We model c.$90m as

being required to move Beisa into first production and Neo Energy into cash generation in

calendar 2027.

Henkries will be a low-cost, high return project: Henkries is an advanced, near-to-production, low-

cost uranium project with a 4.7M lbs drilled U₃O₈ resource that is capable of an

accelerated development and production timetable. Historically, Anglo American spent $30m on

core drilling and plant pilot testing that led to a full prefeasibility study in 1979.

Valuation compares well to other early-stage uranium peers: Our analysis indicates that Neo Energy

is trading at a marked discount to global uranium development peers at a time when the

uranium market is supported by positive market fundamentals. Neo Energy’s current enterprise

STINK- I think you are correct

Some confidence this morning-

18-Dec-25 08:21:34 0.695 500,000 Sell* 3,475 O

18-Dec-25 08:17:46 0.6612 244,000 Sell* 1,613 O

18-Dec-25 08:13:57 0.698 500,000 Buy* 3,490 O

18-Dec-25 08:13:53 0.70 1,500,000 Buy* 10.50k O

18-Dec-25 08:12:25 0.70 2,000,000 Buy* 14.00k O

18-Dec-25 08:12:20 0.698 42,979 Buy* 299.99 O

18-Dec-25 08:11:25 0.688 2,443,381 Buy* 16.81k O

18-Dec-25 08:10:13 0.688 34,883 Buy* 240.00 O

18-Dec-25 08:09:53 0.653 397,261 Sell* 2,594 O

18-Dec-25 08:09:30 0.70 2,410,023 Buy* 16.87k O

18-Dec-25 08:03:42 0.699 27,052 Sell* 189.09 O

18-Dec-25 08:00:28 0.71 279,454 Buy* 1,984 O

1

GRab them cheap sell them high

TFFT👍🏼👍🏼👍🏼👍🏼

Just may be happening this morning- never

Seen a suspended stock say 20% up pre open - it possibly going to happen —— maybe 🤷🏻‍♂️

I found the information on Neo’s instagram account dated 15th may - have a look .

https://www.instagram.com/p/DJrGgv2tsX-/?igsh=NGRybHN6bnlvMWNk

Yes, Neo Energy Metals (NEO) secured a significant loan facility of ZAR 1.2 billion (around £50.4 million) for working capital related to its Beisa uranium project acquisition, confirmed in December 2025, following South African Reserve Bank (SARB) approvals, though it's an intercompany loan between Neo entities rather than directly a UK facility, but the company is UK-listed and proceeding with UK regulatory steps.

Key Details:

Amount: ZAR 1.2 billion (approx. £50.4 million).

Purpose: Working capital for the Beisa Uranium Project acquisition.

Status: Regulatory approvals (including from SARB) were obtained, enabling the facility.

Structure: It's a foreign intercompany shareholder loan facility between Neo Energy Metals and its South African subsidiary.

So, while it's linked to a UK-listed entity and involves UK regulatory processes, the loan itself is an intercompany arrangement for South African operations, equivalent to about £50 million.

It’s info I have found - I also hope it is correct- bodes very well for re listing if it is .

Lincolnshire—- this is from share talk

@NeoEnergyMetals Update on Sibanye Transaction, Regulatory Approvals and Implementation Assessment. #NEO has issued an update on its proposed conditional acquisition of the Beisa Uranium and Gold Project from Sibanye-Stillwater. The asset hosts SAMREC-compliant resources of 1.2 million ounces of gold and 26.9 million pounds of uranium.

The company has launched an Implementation Assessment to support the restart of gold and uranium production, which it expects could be achieved within 18 to 24 months. Development is planned in four phases, with first uranium sales targeted for the first half of 2027.

Regulatory approvals in South Africa and the UK are expected in the first quarter of 2026. Once received, Neo Energy will issue the agreed share consideration and complete the associated cash payments. The group has also secured a ZAR1.2 billion (£50.4 million) loan facility to fund working capital requirements and is progressing a Rule 9 waiver in relation to Sibanye-Stillwater’s potential equity stake of up to 40%. @JB_MiningAfrica

share-talk.com/neo-energy-met… via @Share_Talk

Https://discoveryalert.com.au/nuclear-fuel-inventory-depletion-uranium-deficit-2025/

Summary of Recent News Shared by Jason Brewer

Beisa Acquisition Update: The company provided an update on the conditional acquisition of the Beisa project from Sibanye-Stillwater, which includes significant gold and uranium resources.

Funding: Neo Energy has secured a ZAR1.2 billion (£50.4 million) loan facility to fund working capital requirements.

Production Timeline: An implementation assessment is underway, targeting first uranium sales in the first half of 2027.

Regulatory Approvals: Regulatory approvals in South Africa and the UK are expected in the first quarter of 2026.

DJ- Sibanye-Stillwater is expected to own approximately 40% of Neo Energy Metals following the completion of the acquisition of the Beisa uranium project. The deal is anticipated to be finalized in the first quarter of 2026, making Sibanye-Stillwater the single largest shareholder.

The transaction involves Neo Energy Metals acquiring the Beisa uranium and gold project and the associated Beatrix 4 shaft complex from Sibanye-Stillwater for a total consideration of R500 million (approximately £22.0 million), which is split evenly between a cash payment and the issuance of new Neo Energy Metals shares. It is this share component that will give Sibanye-Stillwater a significant 40% stake and the right to appoint directors to the Neo Energy board.

From reading this I can’t imagine Sibanye getting into bed with NEO if they believed this has been nothing more than teething problems. - Neo is after all only a relatively new company, sibanye must have some real confidence that this is going to play out pretty well .

Jason has said himself in the report that mistakes have been made and this can not happen again - we all ask for people to own up to their mistakes so when someone puts their hand up - you have to fulfill your side of the story and give the benefit of the doubt . he said they have learned from this, so hopefully, moving forward, we have a stronger team running NEO . - I genuinely think we are looking good here . GLA .

Https://youtube.com/shorts/MCqEZHoaDas?si=6GG250Mv4byWnRNg

Who mentioned 10 bagger in 3 months ?

DJ - I’m fully invested here - massive for me and I understand how your are feeling it’s been truly worrying time ,

However i had a full on moment of desperation a

Couple of weeks ago and decided to call Jason - I have had a few telephone conversations since and having listened to the man himself talking I can only say I feel very relieved that the company seems to be doing everything they

Can to resume trading - and I believe it is imminent .

When this does relist we should see some real value here and regardless of how we have seen this perform over past few months- it’s going to have a lot of the financial stuff sorted out- I understand why you feel the way I did —- but see what stock does before jumping out too soon . Good luck people- exciting times to come I think !!

Dj -I do believe this is going to happen very soon -

I think you may regret selling - this company has billions of assets in the ground - nearly crossed the line and this will explode when it opens - those who choose to get out early may have to reconsider when they see the shares rise after we relist I think you will want to stay after all - think about how much value we have in our assets- we are worth so much more that the current price — few more days I think we will be back to it,

Just need to hang on a little bit more — don’t regret it!!