Ann: Mineral Resources Increased to 1.1 Billion Tonnes, page-14

To estimate the total value of the mine and the price per share, we need the following key factors:

1.Total Resource Size & Grade:

•The Meteoric Resources Caldeira Project has 1.1 billion tonnes (Bt) of rare earth element (REE)-bearing material.

•The Total Rare Earth Oxide (TREO) grade is 2,413 ppm (parts per million).

•Magnetic Rare Earth Oxide (MREO) is 559 ppm, making up 23.2% of the total TREO content.

2.Market Prices of REEs:

•The most valuable REEs include Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb).

•Recent market prices for these elements (subject to fluctuations) are approximately:

•Neodymium (Nd2O3): ~$70,000 per tonne

•Praseodymium (Pr6O11): ~$80,000 per tonne

•Dysprosium (Dy2O3): ~$400,000 per tonne

•Terbium (Tb4O7): ~$2,000,000 per tonne

3.Contained Metal Calculation:

•The project contains approximately:

•438,000 tonnes of Nd2O3

•151,000 tonnes of Pr6O11

•25,000 tonnes of Dy2O3

•4,800 tonnes of Tb4O7

•Based on market prices, the estimated value of these REEs is:

•Nd2O3: 438,000 t × $70,000 = $30.66 billion

•Pr6O11: 151,000 t × $80,000 = $12.08 billion

•Dy2O3: 25,000 t × $400,000 = $10.00 billion

•Tb4O7: 4,800 t × $2,000,000 = $9.60 billion

•Total Estimated REE Value = ~$62.34 billion

4.Total Mine Valuation:

•The mine’s value will be lower than the total REE value due to processing, refining, and operational costs.

•If we assume a 50% profit margin, the net valuation could be $30–35 billion.

5.Price Per Share Estimation:

•To estimate the price per share, we need:

•Total shares outstanding of Meteoric Resources (MEI).

•If MEI has 2 billion shares outstanding:

•$30 billion / 2 billion shares = $15 per share.

•If MEI has 3 billion shares outstanding:

•$30 billion / 3 billion shares = $10 per share.