“MEI’s REE basket has a good proportion of heavy REEs compared to many projects which improves attractiveness.“Recent geopolitical moves by China to restrict trade in REEs has highlighted the vulnerability of Western magnet supply chains to supply disruption. In our view MEI is well positioned to be the beneficiary of US led strategic funding initiatives for critical metals.”Canaccord Genuity head of research Reg Spencer is more bullish, naming Meteoric as among the firm’s best ideas in the sector with a speculative buy rating and price target of A35c,“We believe recent the developments in the rare earths market underscore the strategic value of MEI’s Caldeira project,” he said.
MEI Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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