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Meteoric Resources NL ( (AU:MEI) ) has provided an announcement.
Meteoric Resources has secured firm commitments for a $40 million equity placement, issuing about 235 million new shares at $0.17, matching its last closing price and reflecting zero discount. The raising was significantly oversubscribed and drew strong interest from high-quality domestic and international institutions and high net worth investors, including dedicated global critical minerals funds.
Proceeds will fund definitive feasibility and environmental studies, land acquisition, infill drilling, pilot plant and site-based laboratory work, and other pre-development activities at the Caldeira rare earths project ahead of a planned final investment decision in 2026. Following settlement, Meteoric expects to hold about $58 million in cash, leaving it well capitalised to de-risk Caldeira and progress project financing, reinforcing its position in the increasingly active rare earths sector.
The most recent analyst rating on (AU:MEI) stock is a Buy with a A$0.25 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 ASX-listed explorer and developer focused on rare earths, with its flagship 100%-owned Caldeira Rare Earth Iconic Absorption Clay Project in Brazil. The company targets the growing global demand for critical minerals, attracting support from domestic and international institutional investors, including specialised critical minerals funds.
Average Trading Volume: 7,921,372
Technical Sentiment Signal: Buy
Current Market Cap: A$449.9M
Learn more about MEI stock on TipRanks’ Stock Analysis page.