TIDMNEO
RNS Number : 2993V
Neo Energy Metals PLC
01 December 2023
Neo Energy Metals plc / EPIC: NEO / Market: Main Market of the
London Stock Exchange
1 December 2023
Neo Energy Metals plc
('Neo Energy' or 'the Company')
Management Team Strengthened: New Regional Manager
Neo Energy Metals plc, the near term, low-cost uranium
developer, is pleased to announce the immediate appointment of Mr
Jeremia ("Jerry") Cloete as the Company's Southern Africa Regional
Manager for its advanced Henkries Uranium Mine ("Henkries") located
in the Northern Cape Province of South Africa.
OVERVIEW
-- NEO Energy management team strengthened and expanded with
immediate appointment of Mr Cloete as Regional Manager
-- Mr Cloete will be responsible for the day-to-day management
of the Company's exploration, mine development and administration
and operational activities at Henkries
-- Over 30 years' experience in the African mining and exploration industry
-- Recruited from the local community in Springbok, further
reinforcing the Company's commitment to work closely and
effectively with all key stakeholders and communities
-- Reporting to the Company's CEO, Sean Heathcote, Mr Cloete
will assist in planning and managing the next phase of activities
at Henkries including:
o the recruitment of additional key local staff and expansion to
the workforce; and
o the appointment of key consultants to complete new resource
drilling programs, metallurgical testwork, assay of historical
samples and updates to key components of the feasibility study
-- Further key management appointments underway and expected to be completed in December 2023
Neo Energy CEO Sean Heathcote said,
"We have hit the ground running since our listing on the London
Stock Exchange in early November. This past week, I've been with
our team in South Africa which has now been further strengthened by
the appointment of a new Regional Manager, Jerry Cloete.
"Jerry is a highly experienced mining professional who has spent
over 30 years in the African mining industry. He is an valuable
addition to the Company's leadership in the region and we welcome
him to the team. Together, we have been advancing preparations for
the various work programs that will allow us to accelerate
development of Henkries and we look forward to updating our
shareholders on progress in these key areas in the near
future."
DETAILS
The Company is focused on fast-tracking the development of its
advanced Henkries Uranium Project ('Henkries' or the 'Project')
towards production having raised GBP5.4m and re-admitted its shares
to trading on the Main Market of the London Stock Exchange in
November 2023.
Henkries, a 742km(2) uranium project in the Northern Cape of the
Republic of South Africa, has a current estimated mineral resource
of 4.7 million pounds ('Mlbs') of uranium and has been subject to
extensive historical exploration activities as well as a
feasibility study ('FS'). Utilising historical data and newly
generated data from the planned drilling programmes, Neo aims to
increase the Mineral Resources Estimate ('MRE') to +10Mlbs
contained uranium, update the FS, and move to mine development
decision as soon as possible.
In line with this, and to support the Company's accelerated
development timetable, the Company will be expanding and
strengthening its management team in South Africa with a number of
key geological, mining and mineral processing professional. The
appointment of Mr Jerry Cloete as new Regional Manager is the first
of a number of key appointments which are expected to be made
during December 2023.
Mr Cloete has assumed the role with immediate effect and is
already on site at Henkries to oversee the day-to-day activities,
whilst also working with the Company's CEO, in finalising the
recruitment of additional key local staff, the expansion of the
Company's workforce, and the appointment of key consultants.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation, and the Directors of the Company
are responsible for the release of this announcement.
ENDS
Sean Heathcote CEO sean@neoenergymetals.com
Neo Energy Metals plc
Paul Dulieu Financial PR neo@stbridespartners.co.uk
Isabel de Salis St Brides Partners Ltd
Isabelle Morris
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 testwork 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, Non-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: +20 years' experience
in oil and gas and mining in Africa with various directorships held
in well-established 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.
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END
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