Neo Energy Metals
NEO · Main Market · Basic Resources · mcap £15m · 0.5p 3 open situations →
- EV
- £14.7m
- EV / EBIT
- –
- Net cash
- £2k
- FCF yield
- -44.8%
- Revenue
- –
- Share price 1y
- −30%
- Insiders 12m
- no deals
- Next report
- around 3 Dec
Open · 3
Beisa Mine acquisition
Led to Beisa Mine restart – Assessment scaled back; first production now Q2 2028Led to Beisa North/South and Henkries South acquisitions – Conditional; paused pending Beisa Mine
Conditional purchase of the Beisa Mine from Sibanye, signed 6 December 2024. Sibanye's Section 11 consent was granted on 18 August 2026. The 5 October 2026 update says Sibanye's Section 102 is its sole outstanding step before Neo can lodge its own Section 11. A £1.75m placing on 25 September 2026 funds the Section 11 process.
- Phase 1 deadline
- 6 December 2026 (extended from 6 June 2026) 5 Oct 2026 ↗
- Phase 2 deadline
- 6 June 2027 30 Jun 2026 ↗
- Sibanye Section 11
- Granted 18 August 2026; first of three sequential regulatory steps 5 Oct 2026 ↗
- Section 102
- Sibanye's sole outstanding step; separates New Beisa Node from Beatrix; needed before Neo can lodge 5 Oct 2026 ↗
- Neo Section 11
- Being prepared; to be lodged once Section 102 is approved; Phase 2 deadline 6 June 2027 5 Oct 2026 ↗
- Deadlines
- Sibanye Section 11 and Section 102 by 6 December 2026; Neo Section 11 by 6 June 2027 18 Aug 2026 ↗
Next: Sibanye Section 102 consent, then lodge Neo Section 11 · 6 Dec 2026
- 5 Oct 2026 Section 102 pending; Neo Section 11 ready
- 18 Aug 2026 Sibanye Section 11 granted; Section 102 pending
- 30 Jun 2026 Section 11 consent pending; timeline extended to December 2026
- 4 Jun 2026 Phase 1 approval overdue; deadlines extended six months
Beisa Mine restart
Follows from Beisa Mine acquisition – Section 102 pending; Neo Section 11 ready
Henkries mining right application was accepted on 17 April 2026, with a decision due within 300 days; Scoping Report accepted 10 June 2026. The 5 October 2026 update adds the prospecting right renewal (30 June 2026), two further specialist studies beyond the seven scoped, a zero cut-off design review and Mintek sample preparation.
- Minerals applied for
- Antimony, cobalt, copper, kieselguhr, lead, molybdenum, nickel, tin, uranium and zinc; uranium primary 29 Apr 2026 ↗
- Feasibility (2024)
- NPV (8%) US$60 million, IRR above 25% at US$85/lb; about 580,000 lb a year at about US$33/lb cash cost 29 Apr 2026 ↗
- Scoping Report
- Accepted 10 June 2026 30 Jun 2026 ↗
- NNR compliance
- Confirmed 2 June 2026 after Certificate of Registration security inspection 30 Jun 2026 ↗
- Technical work
- Open pit design rework; Mintek test work initiated; EIA activities launched 30 Jun 2026 ↗
- Prospecting right
- Renewed by DMPR on 30 June 2026 for three years 5 Oct 2026 ↗
Next: File EIR and specialist studies; DMPR mining right decision
- 5 Oct 2026 Assessment scaled back; first production now Q2 2028
- 18 Aug 2026 Self-funded assessment on site under way
- 30 Jun 2026 Phase 1 planning and technical work under way
- 4 Jun 2026 Planning continues; first production target unchanged
Beisa North/South and Henkries South acquisitions
Follows from Beisa Mine acquisition – Section 102 pending; Neo Section 11 ready
- 4 Dec 2025 Conditional; paused pending Beisa Mine
Closed · 2
Company filings. Not investment advice.