Neo Energy Metals (LSE: NEO) and A2X Markets (A2X: NEO) have entered into a site access and contractorship agreement with Sibanye Gold Proprietary Limited for the New Beisa Node.
The agreement allows Neo Energy’s subsidiary to begin a fully funded assessment programme before the regulatory transfer of the mining right has been finalised.
Neo Energy will fully fund the assessment, which is expected to cost approximately £3.15 million over around eight months.
The programme will focus on three main workstreams: gold plant refurbishment, uranium processing circuit metallurgy, and site-wide infrastructure.
The assessment is intended to support an updated resource estimate and implementation plan for New Beisa.
Neo Energy said the work will help position the company for a swift transition into execution once regulatory approval is received.
The company continues to target first gold production in December 2027.
The agreement represents an important step in advancing New Beisa while the formal mining right transfer process remains ongoing.
CEO Commentary
Theo Botoulas, Chief Executive Officer of Neo Energy, commented:
“This agreement gets us on site and working, while the regulatory transfer runs its course. We now have a structured, costed roadmap across all three workstreams – gold plant refurbishment, uranium circuit design, and site infrastructure – so that the moment the mining right transfers, we move straight into execution with minimum delay. Subject to the outcomes of the three workstreams our December 2027 target for first gold remains firmly in our sights.”
