Meteoric Resources NL (AU:MEI) has released an update.
Meteoric Resources NL has revealed promising findings from its Scoping Study on the Caldeira Rare Earth Ionic Clay Project in Brazil, indicating potential for it to become the world’s lowest-cost rare earth source. The study forecasts robust financial outcomes, including a pre-tax NPV of US$1.235 billion and an IRR of 38%, with a quick payback period of 2.2 years. Despite the optimistic projections, the company cautions about the preliminary nature of the study and the need for substantial funding to realize the project.
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