Fannie Mae, Freddie Mac shares tumble after conservatorship comments
LONDON - Neo Energy Metals plc (LSE:NEO, A2X:NEO) announced Friday that its annual financial audit for the year ended September 30, 2024, is expected to be completed in August 2025, when the company anticipates its trading suspension will be lifted.
The uranium developer reported that work on its South African subsidiaries’ audit has been completed, with UK audit processes also finalized. The company expects to publish both its annual accounts and interim accounts for the six-month period ending March 31, 2025, in August.
Neo Energy has appointed several advisors to assist with its planned fast-track listing on the Johannesburg Stock Exchange (JSE), including AcaciaCap Advisors, Light Consulting, and media advisor James Duncan. The company has also engaged AcaciaCap and Utshalo to help broaden its investor base in South Africa.
Regarding its uranium acquisitions in South Africa, Neo Energy confirmed that regulatory applications have been submitted to the Department of Mineral Resources and Energy for the proposed acquisition of the Beisa Uranium Project from Sibanye (JO:SSWJ) Stillwater (NYSE:SBSW) Limited. The company made a cash payment of ZAR5 million (approximately £215,000) to Sunshine Mineral Reserve and issued 28.7 million shares related to the Beisa Projects.
Neo Energy also issued 125 million shares for the acquisition of the Henkries South Uranium Project from Eagle Uranium SA, with regulatory approvals still in progress.
The company announced the appointment of CMC Markets (LON:CMCX) UK Plc as joint broker, which has assisted with the placement of 100 million previously allotted shares at 0.5 pence each. CMC will receive an annual broker fee, 10 million warrants exercisable at 0.5 pence with a three-year term, and commission for investors introduced.
This information was provided in a press release statement from Neo Energy Metals.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.