Meteoric Resources NL (AU:MEI) has released an update.
Meteoric Resources NL has secured a significant $27.5 million through a new share placement, with plans to expand its promising Caldeira Rare Earth project. The company is also offering current shareholders the chance to increase their investment via a $5 million Share Purchase Plan at the same attractive share price. These financial moves aim to bolster Meteoric’s cash balance to around $41 million and fast-track the development of what could be a major rare earth supply source outside of China.
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