Neo Energy Metals plc / LSE: NEO, A2X: NEO / Market: Main Market of the London Stock Exchange

26 March 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

Director Share Purchase

Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce that Non-Executive Director Quinton van der Burgh has purchased 7,000,000 ordinary shares of £0.0001 in the Company ("Ordinary Shares") through an off market transaction at 0.75 pence per Ordinary Share.

Following this share purchase, Quinton van der Burgh holds (personally and through Q Global Commodities affiliate, AUO Commercial Brokerage LLC) 207,000,000 Ordinary Shares in the Company representing 14.82 per cent of the Company's voting rights.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

Ends

Notes

Neo Energy Metals plc aims to become an important supplier to the fast-growing uranium sector.  Its initial focus is on its 70% owned Henkries Uranium Project, an advanced, low-cost uranium project in the Northern Cape Province of South Africa with a clear pathway to production. +US$30m of historical exploration, drilling, test pitting and mining, metallurgical test-work and pilot plant work has been undertaken at the Project, culminating in a published feasibility study. 

Headquartered in Nairobi, Kenya, Neo Energy is now focused on increasing the mineral resources at Henkries from the current estimated 4.7 million pounds of uranium, (which is highly probable as less than 10% of prospective ground is fully tested) and completing an updated feasibility study ahead of reaching a development decision by November 2025.

Led by a proven board and management team with uranium and other mineral project development experience in Southern Africa, Neo Energy's strategy is layered on a two-year development approach to generate cashflow from Henkries with a view towards building a longer term exploration and portfolio growth strategy to develop the highly prospective Northern Cape Region of South Africa and, potentially, broader regional expansion into energy metal property holdings globally. 

The team includes:

·    Jason Brewer, Executive Chairman: c.30 years' experience in international mining, financial markets, and investment banking with a particular focus in Africa.

·    Sean Heathcote, CEO: +30 years' experience in the mining and exploration industry in Africa across a broad range of commodities.

·    Jackline Muchai, Non-Executive Director: one of the few Kenyan women serving on a board within London's Main Market on the London Stock Exchange, and CEO of Gathoni Muchai Investments.

·    Bongani Raziya, Non-Executive Director: over 20 years' experience in oil and gas and mining in Africa with various directorships held in well-established and profitable companies.

·    James Longley, Non-Executive Director: +30 years' experience in finance, whose career has been focused on venture capital, private equity and building growth companies.

·    Charles Tatnall, Non-Executive Director: a seasoned advisor and fundraiser, specialising in small and medium-sized enterprises across diverse industries.

·    Quinton van der Burgh, Non-Executive Director: Founder and CEO of Q Global Commodities, one of South Africa's largest privately owned mining houses that has established more than 45 mines throughout Sub-Saharan Africa from greenfield status through to production and exports of materials to the global commodity markets. 

Neo Energy Metals plc's shares are also listed on the A2X Markets, an independent South African stock exchange, in order to broaden its investor base and facilitate opportunities for strategic acquisitions of uranium projects, especially within South Africa.