Certainly not howling you down mate, but a different perspective.
We play in this speculative market mostly because with great risk can sometimes bring great reward. Without the necessary steps involved with exploration, NO-ONE actually knows what's under any particular patch of promising dirt. What we buy with those shares in any given exploration company, is a chance that with the collective knowledge, skills, and most importantly experience of the team - that we will be lucky.
The staggering amount of speculative mining stocks in this space makes it clear not many end up lucky. Not to say there aren't those pump and dump kind of companies out there, though in my experience I can't describe Meteoric, Tunksy or any of the team I've been in touch with over the years in that regard. I've always found their logic, decisions and goals to align with creating value for shareholders - though there have some been unfortunate disappointments where the luck hasnt quite turned our way, despite all the right evidence - for example Novo Astro.
I've been an investor for over 3 years, and I can honestly say I've been impressed with the ability of Tunksy and the team to identify outstanding assets to acquire, and deliver the best value from them. And as we've seen with the recent sale of the assets in Brazil, funding what's ahead with the REE exploration programs - Avoiding the need for a cap raise at a low share price, which is a master stroke in my opinion.
The terms of the acquisition in particular are also extremely favourable to Meteoric - with the total purchase price repaid to meteoric from royalties come operations.
EV / Battery related minerals - and REE in particular - are on trend, for the long term and for very good reason, I'm sure I don't need to elaborate. Some great posts here re lack of REE projects outside of China, and why there is a particular market focus on finding quality REE projects elsewhere. For Tunksy and the team to have secured this project on the back of relationships they've developed while operating in Brazil over the last few years is impressive, and for the amazing grades and value already delivered to shareholders, well that's just the icing on the cake.
Results from the current drilling program will be very interesting when they come, followed by a resource. Excellent news flow going forward. IMO from what we've seen so far (and I think the market is starting to agree), this very well could be the big one. Hopefully, the one where Meteoric goes mining! I'm looking forward to finding out.
IMO DYOR
MEI Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
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