Neo Energy Metals PLC (LSE:NEO) shares surged 33% to 11.02p after the uranium and gold developer announced a sweeping boardroom overhaul headlined by the appointment of Neal Froneman, the former chief executive of mining giant Sibanye-Stillwater, as independent non-executive chairman.
Froneman, who led Sibanye-Stillwater from its formation in January 2013 until September 2025, oversaw its transformation from a 1.5 million-ounce South African gold producer into a globally diversified metals company and the world's largest primary producer of platinum group metals.
He is currently chairman of the World Gold Council and holds non-executive roles at Podium Minerals, PGM Processing and DRA Global.
Three further non-executive directors join him on the reconstituted board.
Sajjad Sabur is chief investment officer at Gilini Group and formerly managing director and head of direct investments at HSBC Private Equity.
John Wallington spent 27 years at Anglo American, culminating as chief executive of Anglo Coal, and currently serves as a non-executive director of Glencore.
Johan Reeder is a chartered accountant with 35 years of international experience across mining, manufacturing and utilities.
The four appointments take effect on 24 April, while six existing directors stepped down with immediate effect, including executive chairman Jason Brewer and executive technical director Sean Heathcote.
The new board joins chief executive Theo Botoulas and chief financial officer De Wet Schutte, both South African mining veterans who joined Neo Energy in 2025.
Botoulas said the appointments reflect the potential he sees in the company's two core assets, New Beisa and Henkries, describing them as "two of the most exciting uranium assets in the sector."
Neo Energy is working to complete the acquisition of New Beisa from Sibanye-Stillwater and secure the mining right for Henkries ahead of planned financing and construction phases.