Each one in plain English, with the numbers worked through for a shareholder.
28 Sept 2023annual report● Neutral
Annual report for year to 30 June 2023 describes the shift from gold explorer to owner of the Caldeira rare earths project. It repeats the 409Mt resource and drilling results. Financial figures are not visible in the text provided.
28 Sept 2023other● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2023, pointing to the governance statement on the website. Administrative filing with no new business information.
27 Sept 2023well test result▲ GoodMajor
First ANSTO leach results on nine cores across the six deposits show magnet rare earth extractions of 79-88% over thick intervals, e.g. 84% over 24.8m. This backs up the earlier 2019 testwork, with the precipitation phase due early 2024.
22 Sept 2023admin correction● Neutral
Registered office and principal place of business moved to Level 1, 35 Ventnor Street, West Perth. Phone number unchanged. Administrative notice only.
20 Sept 2023agm notice● Neutral
Annual meeting set for 17 November 2023, with director nominations closing 27 September. Administrative notice only.
12 Sept 2023investor presentation● Neutral
September Melbourne Mining Club presentation repeats the Caldeira case. Its snapshot still shows the July share price, 1,940M shares and A$480M market value. No new information in the text provided.
31 Aug 2023drilling result▲ GoodMajor
Results from 22 diamond holes include 149.5m at 8,912ppm TREO in hole CVSDD001, outside the resource, the best intercept yet. A 52m zone averages 12,692ppm, with heavy magnet rare earths 4-5 times resource grade. A 60,000m aircore program has begun.
17 Aug 2023admin correction● Neutral
Clarifies the terms of the 11 August Minas Gerais agreement: non-binding, either party can end it on 30 days' notice. The Alger MoU only states an intention to agree a formal contract. No new financial terms.
11 Aug 2023material agreement▲ GoodMajor
Non-binding Cooperation Agreement with Minas Gerais state and Invest Minas gives Caldeira priority status and help with approvals. Alger is engaged for the environmental impact study. Agreed indicative timeline is 24 months to a Construction Licence.
31 July 2023quarterly activities report● Neutral
June quarter report recaps the 409Mt maiden resource, deeper diamond results and the ANSTO testwork start. The aircore rig has left Australia for the 100,000m infill program. Cash and liquid assets were A$17M at 30 June 2023; the scoping study is being priced.
24 July 2023drilling result▲ GoodMajor
Assays from 27 diamond holes show high-grade rare earths continue below the maiden resource, e.g. 31.2m at 3,769ppm and 58.3m at 2,449ppm. Mineralisation reaches 36m at Capão do Mel and 56m at Figueira, so a future resource could grow. Drilling now expanded to regional targets.
24 July 2023investor presentation● Neutral
July investor presentation repeats the Caldeira story. It cites 1,940M shares on issue, A$480M market value at A$0.245 (17 July close) and largest holder about 8.47%. No new results in the text provided.
10 July 2023farm in farm out agreement▲ GoodMajor
Binding option to acquire rare earth rights on 18 licences (20.5km2) west of Figueira, lifting total area to 193km2. Pays US$200k for 120-day exclusivity, then a three-year option, and US$1.5M if it acquires the rights.
27 June 2023flow test result● Neutral
ANSTO has started metallurgical testwork on Caldeira, building on the 2019 results (58% Pr+Nd, 43% Tb+Dy recovery). Core from Capão do Mel and Soberbo ships in early July. No new recovery results yet.
8 May 2023drilling progress report▲ Good
Eight of 11 new diamond holes found clay extending well below the old shallow auger holes, the deepest from 14m to 54m. Company bought its own drill rig for a 100,000m aircore program; assays still pending. Suggests resource could grow at depth.
4 May 2023investor presentation● Neutral
May investor presentation repeats the Caldeira case, including the 409Mt at 2,626ppm resource and cash of about A$18.5M at 31 March. No new information in the text provided.
1 May 2023resource reserve update▲ GoodMajor
Maiden Caldeira resource of 409Mt at 2,626ppm total rare earth oxide (1,000ppm cut-off), all Inferred, with 24% magnet rare earths. Drawn from shallow holes averaging 6.9m, so open at depth. Fulfils the late-April target; 100,000m drilling to start mid-year.
28 Apr 2023quarterly activities report● Neutral
March quarter report recaps Caldeira completion, the $25M raising, the new licence deal and low uranium/thorium results. Maiden resource now due first week of May; cash and liquid assets over $17.5M at 28 April. No new results.
24 Apr 2023asset acquisition disposition▲ GoodMajor
Binding deal to acquire 21 more licences next to Caldeira, covering 49km2 and lifting its area 40% to 172km2. Costs US$500k exclusivity, US$3M on transfer, US$4M plus US$1M shares after one year, US$3M after two years, and a 1% royalty.
20 Apr 2023security holder rights change● Neutral
Notice that listed MEIO options, exercisable at $0.024, expire 5pm WST on 28 May 2023, with quotation ending 22 May. Holders must exercise by then or lose them. Exercising would bring cash into the company; no amount stated.
20 Apr 2023regulatory community update▲ Good
Analysis of 12,941 historic samples shows low uranium (17ppm) and thorium (64ppm) in the Caldeira clay zone, and low levels (21ppm U, 22ppm Th) in test rare earth carbonate. Addresses a radioactivity concern ahead of the maiden resource.
12 Apr 2023asset acquisition disposition▲ GoodMajor
Caldeira acquisition completed: 21 mining licences and 9 applications. Meteoric keeps 100% of Juruena after Keystone's default and is considering its options. Pat Burke resigned as director. Over 100,000m of drilling is planned over 12-18 months; maiden resource due end of April.
12 Apr 2023investor presentation● Neutral
April investor presentation repeats the Caldeira case: 85% of historic holes ended above 1,000 ppm TREO, with 43% and 58% recoveries. States cash of about A$18.5M after the Caldeira payment and 1,734.1M shares on issue. No new results.
11 Apr 2023admin correction● Neutral
Caldeira completion, due 10 April with a US$5M payment and 100M performance shares to Togni, was extended one day to 11 April because 10 April was a public holiday. Administrative only.
4 Apr 2023capital raising announcement● NeutralMajor
Firm commitments for a $25M placement of 200M shares at $0.125, a 13.8% discount to last close, replacing the failed Juruena money. It funds the US$5M Caldeira completion payment and 2023 work. Andrew Tunks becomes Executive Chairman; Burke steps down to non-executive.
What it means for a shareholder
200m new shares at $0.125 to raise about $25.0m. 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.
3 Apr 2023material agreement termination▼ BadMajor
Keystone failed to pay the final US$17.5M for Juruena on 31 March and gave no date for payment, so Meteoric terminated the sale. It keeps the US$2.5M already paid. This reverses the earlier expectation that this money would fund Caldeira, and a capital raising is now planned.
20 Mar 2023director officer appointment▲ GoodMajor
Nick Holthouse, formerly COO of Hastings Technology Metals, appointed CEO from early April, subject to Caldeira completion, with a $320,000 salary. He is intended to become Managing Director within 6 months. Performance rights are tied to resource size targets.
13 Mar 2023material agreement▲ GoodMajor
Definitive agreement signed with Togni to acquire Caldeira, with Togni to be issued 100M performance shares and the first US$5M payment on completion. Re-assays of 398 samples matched the original results. Completion was to follow the 31 March Juruena payment; maiden resource due late April.
13 Mar 2023half year report▲ Good
Half-year to 31 December 2022 shows a net profit of $26.9M and net assets of $28.9M, up from $1.7M at June 2022. Cash was $2.75M. The profit is not explained in the text provided (inference: likely linked to the Juruena sale).
23 Feb 2023drilling result● Neutral
Palm Springs RC assays: best was 5m at 19.7 g/t gold from 9m at the new Mt Bradley target; syenite holes north of Butchers Creek were modest (best 13m at 0.69 g/t). A 3-5,000m RC program is planned after the wet season, starting with Golden Crown.
