Neo Announces Appointment of CFO

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

20 September 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

Appointment of new Chief Financial Officer

Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce the appointment of Mr Andrew Searle as the Company's new Chief Financial Officer.

Mr Searle is a highly experienced accountant and business consultant with over 30-years' experience in accounting, taxation and financial reporting with major United kingdom {'UK') and European accountancy firms for both publicly listed and private companies across a broad spectrum of industries including mining companies in Africa. In addition, Mr Searle has provided in house corporate advisory and financial management services for a number of 'blue-chip' companies including BAT Plc and Reuters Plc as well as for a number of high-growth start-ups and small to mid-tier listed companies in the UK.

The appointment of a new Chief Financial Officer is part of the Company's focus on ensuring it has the necessary in-house resources to ensure it is able to not only deliver on its planned development of the Henkries Uranium Project in South Africa, but also on its broader growth strategy in the uranium sector. This growth strategy has been most recently demonstrated with the acquisition of the Beisa North and Beisa South Uranium Projects, as announced on 13 August 2024, and which also includes a number of additional proposed acquisitions that are also being finalised by the Company's executive management team and corporate advisors.

Mr Searle, who will be based in the United Kingdom, will report to the Company's Executive Chairman and Chief Executive Officer.

The position of Chief Financial Officer is a non-Board position.

Jason Brewer, Neo Energy Metals Executive Chairman said:

"I am pleased to confirm the appointment of Andrew Searle as Neo's new Chief Financial Officer.

Andrew brings tremendous experience not just from the accounting and financial management side but also from a corporate advisory perspective, which will be invaluable for us as we continue to look to grow our business in South Africa's uranium sector and seek to establish Neo as one of Africa's major uranium mine operators and mine development companies.

The Neo Team all look forward to working closely with Andrew in the coming months and years with the delivery of our corporate strategy and at the outset to assist in the finalisation of the acquisition of the Beisa North and Beisa South Uranium Projects as well as the two additional mine and project acquisitions that are currently underway."

The Directors of the Company are responsible for the contents of this announcement.

ENDS

About NEO Energy Metals Plc

Neo Energy is a Uranium developer and mining company listed on the main market of the London Stock Exchange (LSE: NEO). The Company holds up to a 70% stake in the Henkries Uranium Project, an advanced, low-cost mine located in South Africa's Northern Cape Province. It has been estimated by some that the historical investment in the project was over US$30 million in exploration and feasibility studies. Neo Energy aims to increase the project's mineral resources and complete an updated feasibility study with the aim of bringing Henkries into production in the shortest possible timeframe.

The Company also holds a 100% interest in the Beisa North and Beisa South Uranium and Gold Projects in the Witwatersrand Basin, located in the Free State Province of South Africa. The combined projects record a total SAMREC Code compliant resources of 90.24 million pounds ('Mlbs') of U₃O₈ and 4.17 million ounces ('Mozs') of gold.

The Company is led by a proven board and management team with experience in uranium and mineral project development in Southern Africa. Neo Energy's strategy focuses on an accelerated development and production approach to generate cash flow from Henkries while planning for long-term exploration and portfolio growth in the highly prospective Uranium district of Africa.

The Company's shares are also listed on the A2X Markets (A2X: NEO), an independent South African stock exchange, to enable the Company to expand its investor base and facilitate strategic acquisitions of uranium projects, particularly within South Africa.

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