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Neo Energy Metals PLC on Friday said it is prioritising the audit of its delayed 2024 results as it prepares for a fast-track listing in Johannesburg. The London-based mining company focuses on low-cost uranium and strategic metals. Its shares have been suspended since February due to audit delay, but Neo insists that it is working to publish accounts ‘as soon as possible’. The firm aims to launch on the Johannesburg Stock Exchange in the third quarter of 2025. Earlier in July, Neo said the move will ‘enhance liquidity, broaden its shareholder base, and increase visibility amongst African and international investors’. The listing would also support Neo’s expansion into South Africa, where it hopes to become the primary ‘near-term, low-cost’ uranium producer. Historically, South Africa has mined uranium as a by-product of precious metals, rather than targeting it directly. Back in March, Neo agreed to buy land and mining rights at the Beisa uranium project from Sibanye Stillwater, having already agreed to acquire Beisa from Sunshine Mineral Reserve Pty Ltd. Since March, Neo has paid R 5 million, around £215,000, to Sunshine Mineral Reserve Pty Ltd and issued shares worth £215,000 in relation to the acquisition. As of Friday, the regulatory approval process for the acquisition is ongoing, Neo said. It is also in the process of taking over the Henkries project from Eagle Uranium SA Ltd. Neo has issued 125 million shares as part of the Henkries proposal. Once the deal is approved, Neo will pay a cash consideration of about £65,000, in addition to paying off £73,000 in debt and fees owed by Eagle. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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