TIDMNEO
RNS Number : 5043W
Neo Energy Metals PLC
12 December 2023
Neo Energy Metals plc / EPIC: NEO / Market: Main Market of the
London Stock Exchange
12 December 2023
Neo Energy Metals plc
('Neo Energy' or 'the Company')
Sustainability Operations Update
Neo Energy Metals plc, the near term, low-cost uranium
developer, is pleased to provide an operations update regarding its
sustainability strategy at its advanced Henkries Uranium Project
('Henkries' or the 'Project') in the Northern Cape of the Republic
of South Africa.
OVERVIEW
-- Environmental Impact Assessment ('EIA') and Tailings Storage
Facility ('TSF') design enquiries issued and appointment of
specialist consultants expected later this month.
-- EIA and TSF workstreams to then commence early in Q1 2024.
-- Commenced engagement with local communities including
discussions regarding land use, sponsorship of local community
activities and initiatives which will best serve local
stakeholders.
-- Commitment to contribute to the regional "Feeding Programmes"
established in the Northern Cape to combat malnutrition in remote
communities.
-- Significant in-company expertise to be leveraged to support
the development and implementation of best-in-class ESG
strategies.
Neo Energy CEO Sean Heathcote said, "We recognise the importance
of establishing an advanced ESG framework that successfully
balances the sustainable economic benefits of developing Henkries
to all stakeholders. Accordingly, we intend to develop a
best-in-class Sustainable Mine Plan that promotes lasting, positive
environmental and social outcomes for the areas in which we will
operate.
"To achieve this, we are focused on working with leading
consultants that share our vision and values and building
relationships with the local communities to establish a sustainable
path forward. We look forward to providing further details as
consultants are appointed and these workstreams advance."
DETAILS
As part of its plans to progress its Henkries Uranium Project
('Henkries' or the 'Project') towards production, the Company
recognises the importance of impelmenting an advanced Sustainable
Mining Plan focused on reducing its climate impact and creating
enduring value for all stakeholders including the local communities
in which it operates.
The Environmental Impact Assessment will become an effective
tool for developing sustainable guidelines for the Company's
operations at Henkries and accordingly enquiries have been issued
with the study anticipated to commence in early 2024. The Tailings
Storage Facility design enquiries have also been issued with
similar timelines expected. Both studies will be incorporated into
the updated feasibility and mine development study work that has
already commenced.
Rather than recreating support schemes used in other regions on
other projects, Neo is actively engaging with local communities and
municipalities to best understand what initiatives will best serve
local stakeholders' needs. In line with this approach and
recognising the importance of local engagement in the Project's
development, the Company's Regional Manager will lead the community
liaison activities until the Project is advanced to a stage that
warrants the appointment of a full time representative.
Efforts towards building effective and longstanding engagement
with the local community have already commenced, including
discussions regarding land use and the sponsorship of local
community activities. Furthermore, Neo aims to contribute to the
regional "Feeding Programmes" established in the Northern Cape to
combat malnutrition in remote communities.
Notably, the Company aims to draw on its own significant
experience as it builds out its ESG strategies. Non-Executive
Director, Jackline Muchai, project manages the activities of the
Mayflower Children's Foundation, an organisation that aims to
improve the education, health, and wellbeing of African children
through a variety of programmes in East Africa. Additionally, the
CEO of cornerstone investor Q Global Commodities ('QGC'), Quinton
van der Burgh, through his foundation, QVDBF and in association
with and ownership in Generosity Water, has provide communities and
schools throughout Southern Africa with access to safe and clean
drinking water and supports other initiatives including addressing
the skill gap in underprivileged communities and assisting selected
applicants with the support they need to rebuild their lives, from
settling credit card debt, to paying for operations or
schooling.
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 test-work 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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