General discussion (MEI), page-3942

This mornings note courtesy from *..d

Meteoric is focused on its recently-acquired Caldeira ionic clay rare earths project in Brazil.

Clay rare earths are valued as battery materials, but the prospect for most greenfield projects has dimmed because of pull-back in prices and higher development costs.

Barrenjoey Capital describes Meteoric’s prospects as “materially better than its peers” due to the “uniquely high quality nature” of Caldeira as the world’s highest grade large-scale clay deposit.

Caldeira has a resource of 409 million tonnes at 2626 parts per million of total rare earth oxides, but with no reserves. A feasibility study is yet to be carried out.

Barrenjoey values the stock at 50 cents a share, more than twice its current price with plenty of upside if Caldeira is jump-started.