SCP Capital (formerly Sprott Capital Partners) set a price...

SCP Capital (formerly Sprott Capital Partners) set a price target on Meteoric of 50c in early August. It reckons first production could be possible in 2027.It said Caldeira was a disruptive project with the right grade/near surface mineralisation/easy metallurgy to make money at the bottom of the cycle, and could generate a net present value of $US1.5-$US2.5bn at mid-cycle prices, reducing China’s dominance over the rare earths supply chain in the process.“We expect significant resource growth from here for what already should be a multi-decade, large and low-cost RE supplier.’’Macquarie has a 12-month price target on the stock of 45c. Commenting on the impressive drill results from outside of the current resource, Macquarie said that it sees “material upside through exploration success that could further enhance our base case.’’Bell Potter has a 40c valuation after initiating coverage on September 1, suggesting Caldeira was the “King’’ of ionic clay rare earth deposits.Foster Stockbroking has a 42c a share 12-month price target on the stock after initiating coverage on September 5.