Neo Energy Metals plc has reported its interim results for the six months to 31 March 2026, highlighting strong progress across its South African uranium and gold portfolio.
At the core of the update is the New Beisa Node project, acquired from Sibanye-Stillwater. The asset hosts measured and indicated resources of 26.8 million pounds of uranium alongside 1.2 million ounces of gold. Initial production is targeted at around 810,000 pounds of uranium and 52,000 ounces of gold annually, with projected all-in sustaining costs below $30 per pound of uranium equivalent—positioning it as a potentially low-cost operation.
The Henkries Node project also continues to advance, with JORC-compliant resources of 4.7 million pounds of uranium. A 2024 feasibility study outlines annual production of approximately 580,000 pounds, with a cash cost of $33 per pound. The study estimates a net present value of $60 million and an internal rate of return exceeding 25% at a uranium price of $85 per pound, with initial capital expenditure of around $65 million.
Overall, the results underscore Neo Energy’s strategy of advancing scalable, cost-competitive uranium assets, with both projects demonstrating solid economics amid strengthening fundamentals in the nuclear fuel market.
Enquiries
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Neo Energy Metals plc Theo Botoulas, Chief Executive Officer De Wet Schutte, Chief Financial Officer James Duncan, Investor Relations and Communications |
via james.duncan@neoenergymetals.com +27 (0) 79 336 4010 |
