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Meteoric Resources Limited (ASX:MEI)

ALERT: Price-sensitive ASX Announcement for MEI
Current share price for MEI : $0.195 -0.03 (-13.33%)+
Announcement
Release
24 Oct 2025 8:38AM
Price at Release
$0.225
Full Release
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Summary
Meteoric Resources NL released their quarterly report for the period ending 30 September 2025, highlighting significant progress in their Caldeira Rare Earth Project. The project confirmed a world-class, long-life operation with strong mining, processing, and financial metrics, supported by the Pre-Feasibility Study (PFS). A Maiden Ore Reserve was declared, showing a probable reserve of 103Mt at 4,091 ppm Total Rare Earth Oxide (TREO). Additional metallurgical test work and piloting activities were completed to support process design, and construction of a pilot plant in Brazil is nearing completion, with expected commissioning in November 2025. The company's financials reflect a net cash inflow from financing activities of $42.5 million, while operating activities showed a cash outflow primarily due to exploration and evaluation expenses. The report also noted substantial cash reserves, ending the period with $44.4 million in cash and cash equivalents.
Key Points
  • Release of Caldeira Rare Earth Project Pre-Feasibility Study.
  • Maiden Ore Reserve declared with 103Mt at 4,091 ppm TREO.
  • Pilot plant construction in Brazil nearing completion.
  • Net cash inflow from financing activities of $42.5 million.
  • Operating cash outflow due to exploration and evaluation costs.
  • Cash reserves at $44.4 million at period end.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.