Any thoughts on Meteoric Resources (MEI)?
Hi guys Your thoughts on mei as an investment and when they are likely to go into production Thanks Tony
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Answer
Hi Tony,
For subscribers not familiar with MEI it “was” a $410mn WA based gold and copper-gold exploration company whose primary explorations activities were in the Northern Territories & WA.
However since a huge rare earths find in Brazil the stock has transformed including a whopping +1000% appreciation by its share price. MEI is now developing a high-grade Caldeira ionic clay rare earth deposit in Brazil, Macquarie believes this project has the potential to produce up to ~7ktpa of NdPr. However, it is also not yet at production stage and its still conducting multiple studies including metallurgical test work.
- After rallying so explosively it’s hard to chase MEI, especially in the volatile rare earths space, but the story is a good one and the risk/reward looks ok below 20c, i.e. ~30% below its September high.
We’re not sure on time frames for production – sometimes the best gains in mining stocks are made without the added complication of actually producing stuff!
