Funding news soon, and another project16 Aug 2024 08:10
· the acquisition of the beisa projects is supported by the company's major shareholder, dubai based auo commercial brokerage llc ('auo'), and director mr. *****on van der burgh.
· 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.
· the acquisition of the beisa projects is considered a major step by the board in advancing its strategy to position neo energy as south africa's leading uranium mining company and one of africa's major uranium mine operators and developers.
· the acquisition of the beisa projects provides the company with additional advanced projects that comprise some of south africa's largest undeveloped uranium resources, strategically located in the country's primary and long-standing uranium producing region, close to existing mining infrastructure.
· the company is also advancing other potential complementary uranium mine acquisitions in the region and anticipates being able to make further announcements on this before the end of the current quarter.