Just to reiterate the value here26 Oct 2024 12:59
First Equity published a new note on Neo Energy (NEO). It said that following the Beisa projects acquisition announcement by Neo Energy Metals earlier this month for consideration of ZAR381m (c. £16.5m), this updated research note examined this impact upon the Group’s estimated valuation to determine a revised share price target.
Beisa’s acquisition adds a substantial SAMREC resource to the Group with 90.2m lbs of uranium and 4.2m ounces of gold in South Africa’s primary uranium-producing region, where uranium has been mined continuously for over 70 years. Beisa’s combined in-situ resource value is $17bn at current spot prices. It continues to rate the shares as a ‘Buy’ with a target price of 20p per share.
And after the new acquisition I assume this figure is now a fair bit higher - the 23p broker view doesn’t seem too outlandish
DYOR