Member Info for Stubby56

Sure, hope this works!

https://x.com/JB_MiningAfrica/status/1942798779314225513

Did you also see the post about the accounts being finalised and RNS updates to come. Could be a lot of newsflow this month.

thank you for sharing, it's certainly an interesting choice of words.

it won't of course be lost on theo the potential for reputational damage to neo given the numerous problems with other jb listed entities. he will also know that since his official appointment (though he has been working with the company since at least march), he has said pretty much nothing and that needs to change.

i have found it interesting that companies house information has not been updated with his appointment. i can't understand the delay, unless there is a wider boardroom shuffle. it certainly needs it, i would like to see a cfo appointed and also jb to stand down as chairman. he's a dealmaker and marketer , the potential of neo is too big for him in this role. we need a heavy hitter, with wide mining and listed company experience to satisfy the markets.

as for why it's taking so long, i have a guesstimates on this. firstly we do at least know there is quite a bit of activity happening in the background due to the number of rns's released, so this isn't a lost cause in my view as some are worried about.

we know from maru, that *****on is exiting, so it's only natural to assume the same is happening here. that and the future financing of the company (which will presumably be conditional of the sibanye deal closing), might be causing some issues around the going concern statement. sibanye have stated they don't expect the deal to close until early 2026, so potentially we might have a capital raise coming up to see us through.

yes that means more dilution but to be honest it's a struggle to keep up with how much we've been already diluted. i guess in the end i would rather have something of something than something of nothing!

JB has an interesting couple of weeks ahead, the accounts for Marula have to be filed by the end of the month or it gets suspended again. If that were to take place it would mean he has 3 listed companies suspended at the same time, which is not great from a reputational perspective.

The valuation report for NEO's assets will be used in the accounts for post period events, so I doubt we will see that until the accounts are released. Sibanye are not expecting the deal with them to close until early 2026 (according to a presentation on their website), so I expect news will focus on the other assets and the financing deal Bacchus come up with.

As for the share price target, there are so many variables to this, it's a big unknown. The only comfort I have at the moment is that NEO has the potential to be a huge entity, compared to his other operations which look like something out of Aussie gold hunters!

Not sure I would use the word scammed but I understand the sentiment. Every company he is involved with has had some form of problem and he's now trying to list another one! His lack of clarity concerns me, our new CEO for example has been working with the company for months but was only formally announced recently.

If you search the Companies House website, it says the accounts are due by the 30th June there. Back when the company announced the suspension, they said they would inform shareholders on the timings but so far nothing. They haven't even registered the new CEO as a director of the company!

The drop was caused by the fundamental change in outlook from that presented in early April. That then raises question marks on the stability of the pipeline, the future dividend structure and what Mo is referring to about his comment on exceptional items. Also the cash is no longer at 44m, that was end of last year and they've made two acquisitions since. Unfortunately profit warnings can be like buses so all eyes will be on that July update.

According to companies house they are due to be filed by the end of June. However if you go through the companies house website and research the ones involved with JB, there is a bit of a history regarding deadlines met or not met.

However as other posters have alluded to, I reckon the accounts are done and dusted. Since the data in them will be mostly of a historic nature they are more likely going to release them with other news. That news could be anything and everything, from offtakes to financing, from drilling to more acquisitions - who knows!

The only thing we do know is that JB is remarkably quiet about NEO especially. Whether his visit to 'the northern hemisphere' this week has any impact to NEO we'll just have to wait and see.

Just posting this snippet from a job role on their website, in case anyone hasn't seen it:

Current operations are Monday – Friday, however afternoon and evening shifts will be required as production continues to ramp up. Saturday shifts may also be required.

Whilst we wait to see or hear anything about financials, this at least offers a glimpse of momentum building.

Yes, I was surprised to see JB going back to Caracal. It's no secret that he wants to move Marula off Aquis so my working assumption is that there will be some kind of tie up between the two. However Caracal has been in a mess for some time, so I agree the concern is that he is spinning too many plates.

It would be good to get an update from NEO and one delivered by Sean Heathcote, he's the CEO and should be fronting the company more than JB.

Certainly going to be an interesting few months ahead. JB is suspiciously quiet on twitter, which is unusual for him, so we wait to see what happens. I just read through Sibanye Stillwater's results, they mention NEO of course (nothing that we don't already know) but also trying to offload their uranium resource at Cooke. I think it's a bit away from Beisa though.

There's supposed to be a new research report out soon , per JB, so that will be an interesting read.

To wish someone to lose their life savings is an appalling comment, there is no need for that.

Yup, very disappointed too. If JB is serious about NEO becoming a big player in the market, then he has to look at his roles. He surely can't continue to be the hands on chairman here (to all intents CEO anyway), combined with running around as CEO of Marula.

They're already working on the audit so clearly someone forgot to announce it as these issues must have been known for days or even longer.

Absolutely, that RNS is woeful.

And on a salary of £200k p/a!

Cash burn running at circa $3.3m per month, so they will have to pull something out the bag very soon.

In their last presentation, think it was December, they had a new gas venture on the timelines for this year. I thought it was the Vivo JV when that landed but clearly not and they have been working on this for some time.

Adonis has some explaining to do about the overall strategy now as this doesn't quite fit with his 3 pillars to the company that he keeps talking about.

Got to give them credit though for lowering the share price before the annual option giveaway!

Under the going concern statement buried towards the bottom of the final results, they mention that they have enough funds to meet all corporate overheads until Q4.