Neo Energy Metals falls in London debut despite strong uranium market

The company, which started trading under the ticker NEO, has up to 70% interest in the Henkries uranium project in South Africa, an asset that holds the promise of becoming a low-cost mine. The remaining 30% held by Wavecrest Investments.

The Kenya-based company says that Henkries, which holds a current estimated mineral resource of 4.7 million pounds of uranium, has a vast potential as less than 10% of prospective ground has been fully tested to date. Neo Energy’s public listing comes at a time of high uranium prices, which are fuelling an ongoing rally in the stocks of uranium miners,

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