Neo Energy Metals (NEO) H1 2026 earnings summary

Executive summary

• Trading on the London Stock Exchange was restored in December 2025 after overdue accounts were published.

• £2.5 million was raised through share placements and debt repayment via equity, with an option for a further £6.5 million investment.

• Board and executive team were strengthened, including new appointments and committee structures.

• Project portfolio advanced, with progress on New Beisa and Henkries uranium-gold projects in South Africa.

Financial highlights

• Group loss after tax for the six months ended 31 March 2026 was £1.095 million, compared to £3.824 million loss for the same period last year.

• Loss per share was 0.045 pence, improved from 0.23 pence year-over-year.

• Total assets stood at £21.964 million, with net liabilities of £19.509 million as of 31 March 2026.

• Cash and cash equivalents at period end were £1.542 million.

Outlook and guidance

• First production from New Beisa targeted for December 2027, subject to regulatory approvals.

• Mining Right approval for Henkries expected by December 2026, with infill drilling and engineering to follow.

• Board confident in securing capital for operations through 2026 and 2027, supported by strong uranium and gold markets.