13 Feb 2025investor presentation● Neutral
February corporate presentation for Bell Potter event repeats the Caldeira case. Snapshot shows A$0.08 share price, A$180M market value and A$29.1M cash at 31 December. No new results in the text shown.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Feb 2025drilling result▲ GoodMajor
Aircore drilling at Agostinho, in the north of Caldeira, returned up to 19,183ppm TREO, with magnetic rare earths averaging 30.4% of the total versus the 23.1% resource average. Mineralisation averages 28.4m thick. Eight of 69 licences are now infill drilled.
12 Dec 2024drilling result▲ GoodMajor
Aircore drilling at Barra do Pacu, just south of the Capão do Mel starter pit, hit up to 7,998ppm TREO, with mineralisation averaging 27m thick. Not in the resource or the coming PFS mine plan; seen as upside for the later definitive study.
21 Nov 2024asset acquisition disposition● Neutral
WIN Metals' announcement that it closed the Butchers Creek (formerly Palm Springs) purchase, confirming the same consideration. WIN cites a 357,000oz gold resource and calls Meteoric its new major shareholder. Adds no new terms for Meteoric.
21 Nov 2024asset acquisition disposition▲ GoodMajor
Sale of the Palm Springs gold project to WIN Metals completed. Meteoric received A$1M cash and A$1.75M of WIN shares (12-month escrow); A$1M is due after 18 months and A$1.25M at 20,000oz of gold. Resolves the pending sale; total up to A$5M.
20 Nov 2024investor presentation● Neutral
November investor presentation on Caldeira. Snapshot shows A$0.10 share price, 2,299M shares, A$230M market value and A$35.6M cash at 30 September. Lists Gale as Managing Director and Holthouse as Project Technical Director. No new results in the text shown.
19 Nov 2024director officer appointment● NeutralMajor
CFO Stuart Gale, who joined in April 2024, is promoted to Managing Director and CEO on a A$450,000 salary, with performance rights tied to feasibility, funding and construction. Andy Thomson becomes CFO. Nick Holthouse stays to focus on Caldeira project delivery.
31 Oct 2024other● Neutral
WIN Metals settled its A$3.6M placement at A$0.025 per share, meeting the A$3M raising condition for buying Palm Springs. Meteoric and WIN are still finalising the remaining conditions to close the sale. WIN's first drilling there is nearly complete.
24 Oct 2024regulatory community update▲ Good
Caldeira chosen as a pilot project in Brazil's government-led climate investment platform, which aims to mobilise up to US$10.8B once investment decisions are made. Meteoric says it is the only mining project named, and talks with development bank BNDES have begun. No funding committed.
22 Oct 2024other▲ GoodMajor
Scoping study updated to include Figueira high-grade tonnes: pre-tax NPV rises 14% to US$1,403M, IRR 40.4%, payback 2.2 years, and the mine schedule is now 100% Measured and Indicated. Spot-price IRR is 22%. PFS now due second half FY2025.
22 Oct 2024admin correction● Neutral
Replacement of the same-day scoping study update, correcting formatting problems in Figures 2 to 7. No change to the results.
26 Sept 2024annual report● Neutral
FY24 annual report, the first full year as a rare earths company. Recaps the 740Mt resource, 69 licences (up from 30) and the scoping study. Says further resource updates at Dona Maria and Cupim Vermelho Norte are expected late 2024.
26 Sept 2024other● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2024, lodged with the annual report. Routine compliance filing with no new information.
10 Sept 2024investor presentation● Neutral
September investor presentation repeats the Caldeira scoping study and resource case. Snapshot shows A$0.09 share price, 2,291M shares, A$206M market value and A$44M pro-forma cash. No new results.
29 Aug 2024capital raising announcement● NeutralMajor
The share purchase plan drew only A$420,046 of applications, so a further A$3M was placed to investors at the same A$0.11. Total new shares are about 31M. Pro-forma cash is about A$44M. Completes the 26 July raising.
28 Aug 2024asset acquisition disposition▲ GoodMajor
Conditional agreement to sell the Palm Springs gold project in WA to WIN Metals for up to A$5M: A$1M cash and A$1.75M in WIN shares at settlement, A$1M after 18 months, and A$1.25M at 20,000oz of production. Leaves Meteoric focused on Caldeira.
28 Aug 2024asset acquisition disposition● Neutral
WIN Metals' side of the Palm Springs purchase, to be renamed Butchers Creek. Terms match Meteoric's release. WIN must raise at least A$3M within 75 days and get shareholder approval. Meteoric would become a major WIN shareholder. Adds no new terms.
21 Aug 2024material agreement▲ GoodMajor
Non-binding MOU with Ucore Rare Metals for offtake of at least 3,000t TREO a year of Caldeira mixed carbonate to its planned Louisiana plant. A binding agreement is still to be negotiated. This is Meteoric's second offtake MOU after Neo in May.
5 Aug 2024capital raising announcement● Neutral
Share purchase plan opens, offering eligible shareholders A$500 to A$30,000 of shares at A$0.11 to raise about A$5M, closing 23 August. Administrative mailing of offer documents; no new information beyond the 26 July announcement.
5 Aug 2024investor presentation● Neutral
Diggers & Dealers presentation repeats the Caldeira case and the recent resource and scoping study results. Snapshot shows A$0.11 share price, about 2.2 billion shares, A$240M market value and A$41.4M pro-forma cash. No new results.
5 Aug 2024resource reserve update▲ GoodMajor
Figueira resource grows 238% to 170Mt at 2,766ppm TREO, with 138Mt Indicated. Caldeira's global resource rises to 740Mt at 2,572ppm, with 308Mt Measured and Indicated. Pre-Feasibility Study on the three southern licences is scheduled for December 2024.
2 Aug 2024capital raising announcement● Neutral
The A$27.5M placement is completed: 250M new shares issued at A$0.11. The share purchase plan for up to A$5M at the same price opens 5 August and closes 23 August. Confirms the 26 July raising.
What it means for a shareholder
250m new shares at A$0.110 to raise about A$27.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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26 July 2024capital raising announcement● NeutralMajor
Raising A$27.5M via placement of about 250M shares at A$0.11, an 8.3% discount to the last close, plus a up-to-A$5M share purchase plan at the same price. Pro-forma cash about A$41M, to fund a PFS, demonstration plant and approvals. This dilutes existing holders.
What it means for a shareholder
250m new shares at A$0.110 to raise about A$27.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
8 July 2024other▲ GoodMajor
Scoping study (Ausenco) for Caldeira: 20-year life, 5Mtpa, initial capex US$297M excluding 35% contingency, average operating cost US$7.00/kg TREO. Funding of about US$400M would likely be needed, with no processing contracts yet secured. Delivers the late-June study promised earlier.
25 June 2024material agreement▲ Good
Five-year non-binding MoU with SENAI Minas Gerais, owner of Lab Fab, Latin America's first permanent magnet plant (100t/yr initial capacity). Meteoric would supply raw material for pilot magnet production. It is a research partnership, not a sales contract.
13 June 2024resource reserve update▲ GoodMajor
Capão do Mel resource upgraded, with 85Mt Measured and Indicated at 3,034ppm TREO, including a 36Mt high-grade core at 4,345ppm. Caldeira's global resource rises to 619Mt at 2,538ppm TREO (from 545Mt). The core supports targeting feed above 4,000ppm early on.
31 May 2024director officer appointment▲ Good
Dr Nomi Prins joins the board as non-executive director from 1 June 2024. A former Goldman Sachs managing director and economist, she brings banking, critical minerals policy and US and Brazil government experience.
23 May 2024regulatory community update▲ GoodMajor
Environmental Impact Statement for the southern licences (Soberbo, Capão do Mel, Figueira) lodged with Minas Gerais regulator about 3 months ahead of schedule. Construction licence still targeted Q4 2025; the company cites 89% community acceptance. Capão do Mel update due June, scoping study late June.
14 May 2024resource reserve update▲ GoodMajor
Soberbo resource up 150% to 229Mt at 2,601ppm TREO, including the project's first Indicated resource (86Mt at 2,730ppm). Caldeira's global resource rises 33% from 409Mt to 545Mt at 2,561ppm TREO. Capão do Mel update and scoping study due soon.
3 May 2024auditor change● Neutral
BDO Audit Pty Ltd replaces BDO Audit (WA) Pty Ltd as auditor after the latter resigned with ASIC consent. The change follows BDO restructuring its audit practice; administrative only.