Each one in plain English, with the numbers worked through for a shareholder.
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.
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24 July 2024quarterly activities report● Neutral
June quarter report recaps the Soberbo and Capão do Mel resource upgrades (global 619Mt), Neo MOU, Lab Fab MOU, EIS lodgement and the Prins appointment. Cash was A$13.87M at 30 June, well down from A$32.3M at December. No new results.
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.
2 May 2024material agreement▲ GoodMajor
Non-binding MOU with Neo Performance Materials for offtake of 3,000 tonnes TREO a year of Caldeira mixed carbonate, with first refusal on volumes above 6,000 tonnes a year. A binding agreement is still to be negotiated; production aimed for second half 2027.
30 Apr 2024quarterly activities report● Neutral
March quarter report recaps the outside-resource drilling (PIADD001 143m at 6,406ppm TREO), improved ANSTO recoveries, the EXIM US$250M letter of interest, CFO appointment and S&P/ASX 300 inclusion. Text provided shows no new results.
25 Mar 2024director officer appointment▲ Good
Stuart Gale appointed Chief Financial Officer from 8 April 2024 at A$350,000 salary plus performance rights tied to resource, feasibility, funding and construction milestones. Former CEO of Resolute Mining and CFO of Mineral Resources' lithium division.
21 Mar 2024debt financing▲ GoodMajor
Meteoric received a non-binding Letter of Interest from the US Export-Import Bank for a potential facility of up to US$250M, for US-origin equipment, goods and services. Subject to EXIM board approval and due diligence; the final investment decision is targeted late 2025.
14 Mar 2024half year report● Neutral
Half-year to 31 December 2023: net profit A$3.58M (versus A$26.9M a year earlier), cash A$32.3M (A$17.3M at June 2023), net assets A$26.9M. Review of operations recaps known Caldeira drilling, metallurgy and scoping study progress; no new results.
1 Mar 2024other▲ Good
S&P Dow Jones index rebalance adds Meteoric to the S&P/ASX 300 and All Ordinaries indices, effective 18 March 2024. Index change only; no new company information or business development.
29 Feb 2024well test result▲ GoodMajor
ANSTO produced Caldeira's first saleable mixed rare earth carbonate (57.3% TREO, 98% purity) using the AMSUL wash at pH 4. Recoveries improved: Pr 74%, Nd 73%, Dy 50%, Tb 53%. Result comes from a 25kg sample; further optimisation continues.
14 Feb 2024investor presentation● Neutral
February conference presentation repeats the Caldeira case. Its snapshot shows A$0.195 share price on 1 February, A$328M market value and A$32M cash, against A$0.245 and A$480M in July. No new technical results in the text provided.
31 Jan 2024quarterly activities report● Neutral
December quarter report recaps Juruena sale completion (A$27.65M received), Peter Gundy's appointment, the Soberbo aircore results and ANSTO leach results. Scoping study with Ausenco is still due Q1 2024; the environmental impact study is due Q2 2024. No new results.
30 Jan 2024drilling result▲ GoodMajor
Diamond holes outside the 409Mt inferred resource hit thick clay mineralisation, led by 143m at 6,406ppm TREO in PIADD001 with elevated terbium and dysprosium (110ppm). Resource updates are due from Q2 2024; the environmental impact statement is due this year, with construction permits targeted late 2025.
3 Jan 2024price query● Neutral
Responding to an ASX price query after the share price rose from A$0.25 to A$0.29, Meteoric said it knows of no undisclosed information. It noted about A$4.6M received in December from option exercises. 18 diamond hole results are due the week of 22 January.
14 Dec 2023drilling result▲ GoodMajor
First results from the company's own aircore rig: 277 Soberbo holes include 17m at 6,686ppm TREO. Mineralisation averages 16.2m deep versus 9.3m in historic auger holes (77% deeper). A Soberbo resource re-estimate (currently 92Mt at 2,948ppm) follows once assays are in.
8 Dec 2023admin correction● Neutral
Re-release of the 7 December testwork announcement with added impurity removal disclosure and an updated JORC Table 1. Results otherwise appear unchanged from the original release.
7 Dec 2023well test result▲ Good
More ANSTO leach results across all six deposits: 48 composites above 4,000ppm TREO averaged 73% magnet rare earth extraction, with a best interval of 81% over 10.4m. This extends the September results of 79-88%. Remaining results are due December to January.
13 Nov 2023director officer appointment▲ Good
Peter Gundy appointed non-executive director and will chair the audit committee. He founded and led Neo Material Technologies, a rare earth processor. He adds downstream processing and sales experience to the board.
31 Oct 2023asset acquisition disposition▲ GoodMajor
Sale of the Juruena gold project to Keystone completed, with the US$17.5M (A$27.65M) balance received on the original US$20M terms. It reverses the April 2023 termination. Cash rises to about A$35M after ~A$0.55M costs, funding drilling, the scoping study and a pilot plant.
31 Oct 2023quarterly activities report● Neutral
September quarter report recaps Caldeira progress: 149.5m at 8,912ppm TREO diamond hole, 60,000m aircore program, ANSTO leach results, Ausenco scoping study due Q1 2024 and the Raj Minerios option. No new results in the text provided.
6 Oct 2023contract award▲ GoodMajor
Ausenco awarded the Caldeira scoping study, to Class 5 cost-estimate standard, due Q1 2024. It covers the three southern licences (Figueira, Capão do Mel, Soberbo) on the 409Mt inferred resource. A reserve update is expected Q3 2024.
