MEG’s main projects are a lithium project in Canada and a rare earths project in Idaho, USA.
MEG’s lithium project is in the James Bay region of Canada - home to a recent major lithium discovery by Patriot Battery Metals (now capped at ~$1.7BN).
MEG’s project shares geological similarities with Patriot’s, and investor attention is focused on the regionMEG’s ground sits along strike to major lithium discoveries made by Patriot Battery Metals (capped at ~$1.7BN), Winsome Resources (capped at $318M).
MEG’s US rare earths project has multiple carbonatite structures at surface across ~10km of strike. Rock chip sampling across the project has returned grades of up to 17.7% TREO (Total rare earths oxide). Carbonatites are the same type of rocks that hosts $7.6BN Lynas Rare Earths Mount Weld rare earths project.
MEG is currently trading with a market cap of $11.2M, has $3.5M in cash in the bank trading with a tiny Enterprise Value of $7.7M.
