Neo Energy Metals PLC (LON: NEO) shares jumped 33% to 11.02p in early trading after the company unveiled a major board overhaul, led by the appointment of Neal Froneman as independent non-executive chairman.
Froneman, who led Sibanye-Stillwater from its formation in 2013 until 2025, oversaw its transformation into a globally diversified mining group and the world’s largest primary producer of platinum group metals. He currently chairs the World Gold Council and holds non-executive roles across the mining sector.
He will be joined by three new non-executive directors:
- Sajjad Sabur, chief investment officer at Gilini Group and former HSBC Private Equity managing director
- John Wallington, a former Anglo American executive and current non-executive at Glencore
- Johan Reeder, with more than three decades of international experience
The appointments, effective 24 April, follow the immediate departure of six existing directors, including executive chairman Jason Brewer and technical director Sean Heathcote.
The reconstituted board will work alongside CEO Theo Botoulas and CFO De Wet Schutte, both appointed in 2025.
Botoulas said the changes reflect confidence in Neo Energy’s core assets—New Beisa and Henkries—which he described as among the most compelling uranium projects in the sector.
The company is progressing the acquisition of New Beisa from Sibanye-Stillwater and is working to secure a mining right for Henkries ahead of financing and development.
