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Meteoric Resources NL ( (AU:MEI) ) has shared an update.
Meteoric Resources has reported strong performance from its newly commissioned mixed rare earth carbonate pilot plant at the Caldeira Project in Brazil, with magnet rare earth recoveries averaging 70 percent and production reaching up to 2.6 kilograms per day. The results closely match or outperform prior independent test work, validate the project flowsheet, and demonstrate efficient water and reagent recycling.
The pilot plant output is being used to supply samples for offtake partner qualification, de-risk the design of a future commercial plant and support evaluation of further downstream processing in Brazil. Management said the performance strengthens the company’s path toward a definitive feasibility study, licensing and a final investment decision, while testing across additional tenements aims to expand and optimise the project’s resource base.
The most recent analyst rating on (AU:MEI) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Meteoric Resources NL stock, see the AU:MEI Stock Forecast page.
More about Meteoric Resources NL
Meteoric Resources NL is an Australian-listed resources company focused on developing the Caldeira Rare Earth Project in Minas Gerais, Brazil. The company is advancing production of mixed rare earth carbonate, targeting magnet rare earth elements critical for high-tech and energy transition supply chains, and is progressing toward commercial-scale operations and downstream processing in Brazil.
Average Trading Volume: 9,759,377
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$476.4M
See more data about MEI stock on TipRanks’ Stock Analysis page.