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An announcement from Meteoric Resources NL ( (AU:MEI) ) is now available.
Meteoric Resources NL has finalized an agreement to acquire 21 mining licenses from Varginha Mineração Ltda., enhancing its Caldeira Project in Brazil. This strategic acquisition consolidates a significant area of 67km2, providing immediate access to high-grade rare earth elements and supporting future expansion. The revised terms of the agreement preserve the company’s cash position while involving the Varginha Parties in Meteoric’s share price performance, indicating a collaborative approach to project development.
The most recent analyst rating on (AU:MEI) stock is a Buy with a A$0.40 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 operates in the mining industry, focusing on the exploration and development of rare earth elements. The company is primarily involved in the Caldeira Ionic Clay Rare Earth Project in Brazil, aiming to supply high-quality rare earth feedstock to meet growing market demands.
Average Trading Volume: 11,743,810
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$475.4M
For an in-depth examination of MEI stock, go to TipRanks’ Overview page.