Neo Energy Metals (LON: NEO, A2X: NEO) Update on Beisa Uranium and Gold Mine Acquisition

Update on Sibanye Transaction, Regulatory Approvals and Implementation Assessment

Neo Energy Metals plc 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%.

For enquiries contact:

KENYA	SOUTH AFRICA
Jason Brewer – Executive Chairman  jason@neoenergymetals.com	Theo Botoulas – Chief Executive Officer theo@neoenergymetals.com

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