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Meteoric Resources Limited (ASX:MEI)

ALERT: Price-sensitive ASX Announcement for MEI
Current share price for MEI : $0.155 -0.045 (-22.50%)+
Announcement
Release
29 Apr 2026 9:27AM
Price at Release
$0.200
Full Release
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Summary
Meteoric Resources NL announced the strengthening of its position over the Caldeira Rare Earths Project in Brazil through an amendment agreement with Togni S/A Materiais Refratários. This involves the immediate assignment of key tenements necessary for production commencement, with Togni receiving director nomination rights and a conditional option to offtake up to 30% of the project's MREC production. The agreement aims to facilitate financing solutions and further project development by aligning key administrative and financial efforts.
Key Points
  • Meteoric Resources NL strengthens tenure over Caldeira Rare Earths Project in Minas Gerais, Brazil.
  • Executed an amendment agreement with joint venture partners Togni S/A Materiais Refratários.
  • Full assignment of primary tenements required for Caldeira Project production.
  • Togni granted the right to nominate a Director to Meteoric's Board.
  • Togni holds a conditional Offtake Option for up to 30% of MREC produced.
  • The Offtake Option requires five years advance notice and is based on market pricing.
  • Transfer of tenements supports the progression of a fully funded project financing solution.
  • Focus on de-risking activities including DFS and licence applications for Caldeira Project.
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.