Neo Energy Metals Plc, the near term, low-cost uranium developer, is thrilled to open the London Stock Exchange market today. 

The company is celebrating the re-admission of its enlarged share capital following the completion of a Reverse Take-Over (‘RTO’) and having raised £4.9 million.

By re-admitting its enlarged share capital to the Market today, Neo Energy signals its ongoing commitment to development and increased access to funding as it looks to become an important supplier to the fast-growing uranium sector.

Neo Energy’s initial focus is on Henkries, an advanced, low-cost uranium project in the Northern Cape Province of South Africa with a clear pathway to near-term production. This exciting project has a current estimated mineral resource of 4.7 million pounds of uranium but is wide open for potential new uranium discoveries given less than 10% of prospective ground has been fully tested. The company’s next steps include increasing the project’s Mineral Resources and updating the initial, positive feasibility study ahead of making a development decision within two years.

Neo Energy has joined the market at an opportune time given the robust uranium market dynamics.  As one of the most strategic modern commodities, this clean, safe, reliable, and economic energy source is expected to play an increasingly significant role in the generation of green energy.  However, while demand for uranium is growing, the market’s fragile supply chain has become apparent from recent global events.