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Meteoric Resources NL ( (AU:MEI) ) has provided an update.
Meteoric Resources NL has provided an update on the environmental licensing process for its Caldeira Project in Brazil. Despite a procedural irregularity in a recent vote by the Council of Management of the Pedra Branca Conservation Area, the company has received strong support from local government and environmental bodies, ensuring that the project’s timeline remains unaffected. The Minas Gerais Environmental Protection Agency confirmed that the irregularity will not impact the issuance of the Preliminary Environmental Permit, allowing the project to proceed as planned. This development underscores the project’s importance in Brazil and reflects the company’s strong governmental relationships.
The most recent analyst rating on (AU:MEI) stock is a Buy with a A$0.35 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 a company operating in the mining industry, focusing on the exploration and development of rare earth elements, particularly through its Caldeira Ionic Clay Rare Earth Project in Brazil. The company is known for its high-grade Ionic Absorption Clay deposits, which include significant Magnetic Rare Earth Oxide recoveries.
Average Trading Volume: 7,818,448
Technical Sentiment Signal: Buy
Current Market Cap: A$356.5M
For an in-depth examination of MEI stock, go to TipRanks’ Overview page.