Member Info for Stubby56

There were also shares issued last year at 0.50 and 0.75 pence which could still be flowing through.

There was an article published by Reuters yesterday about the uranium market. Not sure LSE allows links but if you just search Reuters uranium, it should come up.

Basically it was again highlighting the structural deficit in uranium supply and saying longer term pricing contracts are already heading to $100 per lb, which would boost our projects further once we have all approvals in place.

Why do people keep going on about Brewer, Theo is the CEO and the one tasked to deliver this, if you're worried contact him. I did last year and was quite happy with his candid view of the situation.

We know there is interim funding to be announced shortly, the terms probably won't be great but that surely is reflective of the risk without the approvals being granted yet. My own personal view is around the .75 mark.

I am quite happy to wait and watch how this plays out.

And people's money has been tied up all year, the opportunity cost of not being able to use that and invest in other stocks has been huge. Then you have the JB effect, all his other companies are either suspended or in dire trouble so that adds another risk layer.

We need Theo and the new CFO to now step up on the communication front to try and break that cycle, which I'm sure will happen in the New Year.

In the coming days we should hear about the interim funding, that will be really interesting.

Yup, back in July 2024. Looking forward to hearing on developments during the remainder of this month.

I'm expecting another RNS soon with the updated valuation report. A really good and comprehensive RNS this morning, which is clearly Theo's work and bodes well for the future.

They should also be announcing an AGM soon, would be great to go along if we can.

There is no loan at present, it's just another release that people have misread. All they have secured at present is regulatory approval to transfer money from the owning company, NEO plc, to the operating entity in South Africa due to exchange controls in the country.

Think about it, if it was a loan they would have to disclose details on the terms and what it is secured against. Whenever JB issues something, you really have to be cautious on assumptions as the guy would tell you a Lada is a great car.

Hi Stix,

This was actually announced back in May, so unfortunately it's not a new piece of news. Also I don't believe it's a loan in the true sense of the word but more of a mechanism to move funds from UK Plc to the South African entity which required regulatory approval for the future.

If that is correct, the takeaway is that the maximum they can raise in the UK and remit to SA is the said £50m but the details on this are scant.

As we know there is a lot of smoke and mirrors with NEO but that's my reading of it at the moment!

But that then contradicts what the company have previously been saying about re-listing. If they really are waiting for the approvals, which could be March or even longer if there are more delays, surely that means they are preventing an orderly market in the shares by keeping them suspended?

Anyone else puzzled as to why they issued this release. I can't immediately see anything new that has not already been covered in previous releases or the presentation.

The Sibanye deal is not expected to close until Q1, so the license deal surely can't be a reason to delay re-listing. I suspect it's something around the interim funding which they want to complete.

I top sliced a few earlier in the week to invest elsewhere. I am up over 400% on my holding, so it was prudent to take some off the table.

A thorough and detailed presentation which is great to see. Some of the questions I put to the company have been answered by the releases today, so I'm more optimistic than I have been in a long time.

We still need funding of course and I suspect we will hear more about that and the re-listing in the coming days.

Could be but I'll be holding out for more! The in-situ valuation at the end of September was $30.4 billion but obviously we need those approvals, which is now expected Q1 and that ties up with what Sibanye have been saying for some time. Then onto production which is estimated H1 2027.

This is a very good appointment, not only does this strengthen the board but also starts to demonstrate that this company can be different from other JB entities. They now need to move on Longley and Tatnall, bring in new and more sector experienced NED's.

Within days I reckon, however it's impossible to predict a price without further news.

It's good news that these are finally released, though I don't pay a huge amount of attention to them. The numbers are all historic and pre-date the appointment of the new CEO, who wants to get on with this project.

We haven't known the cash position for a very long time so it's not surprising to me at all they need funds but the background to uranium and gold is infinitely better than when we suspended.

I suspect we will see more RNS's in the coming days .

Yup, it's hard going this and just can't get my head around why a pre-revenue company finds it so hard to produce any financial figures.

Agree but can completely understand the upset. I knew before investing that JB was an interesting character but I liked the idea of what NEO was trying to achieve and that hasn't really changed for me, except I no longer listen to him or believe anything he says.

My focus now is what Theo can bring to the company and whether he can get these projects into production and I believe he can, so will be sticking around.

There is a lot of anger and frustration but there seems little point in voicing it as we're all in the same boat.

I did think of making myself an absolute nuisance but when you start researching and find that NED's Tatnall/Longley have a long history of working together, I stepped back and thought is there any point.

The FCA are more useless than the current PM, their numerous advisers will not supply anything outside the public domain so that just leaves Theo. I will email him today but of course more than open to other ideas!