Neo Energy Metals appoints new auditor, delays annual report

LONDON - Neo Energy Metals PLC (LSE: NEO), a uranium developer and mining company, announced the appointment of Moore Kingston Smith LLP (MKS) as its new independent auditor. The company informed that the change and a detailed review of recent significant transactions have led to a delay in the publication of its annual report and accounts for the year ended September 30, 2024.

The transition to MKS from PKF Littlejohn LLP (PKF) comes after a comprehensive due diligence process by the company’s board. MKS will audit the current financial year, marking the first audit since Neo Energy’s listing on the London Stock Exchange (LON:LSEG). The audit will encompass a review of material post-balance sheet events, including multiple acquisitions in the mining sector.

The board expressed its appreciation to the outgoing PKF team for their service and contributions. The new auditor MKS has started the audit work, but progress has been delayed due to the necessary administrative and professional clearance from the previous auditors. This delay is partly attributed to the need for MKS to complete a detailed review of significant transactions and acquisitions announced by Neo Energy in the past three months.

As a result of these delays, trading in the company’s ordinary shares has been suspended effective 7:30 am on January 31, 2025. Neo Energy will provide updates on the expected timing for the publication of its annual report and accounts and will seek a resumption in trading of its ordinary shares upon their release.

The announcement, which contains inside information as per the UK Market Abuse Regulation, underscores the company’s strategy to position itself as a leading uranium mining company in South Africa and a major operator and developer of uranium mines across Africa.

Neo Energy Metals has been expanding its uranium portfolio in South Africa, with acquisitions including interests in the Beisa North and South Uranium and Gold Projects, the Beatrix 4 mine and shaft complex, and the Henkries South Uranium Project. The company’s leadership team is focused on an accelerated development approach to generate cash flow while planning for long-term exploration and growth.

This news article is based on a press release statement issued by Neo Energy Metals PLC.

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