Highlights

  • SCP Resource Finance LP has issued a buy rating on Meteoric Resources with a target price of AUD 0.50.
  • Canaccord Genuity has assigned a speculative buy rating on the company, also setting a target price of AUD 0.50.
  • The ratings coincide with ongoing project updates and recent milestones at the Caldeira Rare Earth Project.

Meteoric Resources NL (ASX:MEI) has come into analyst focus after receiving favourable ratings from two research houses. SCP Resource Finance LP has initiated coverage with a buy rating and a target price of AUD 0.50, while Canaccord Genuity has issued a speculative buy rating, also assigning a target price of AUD 0.50.

Quarterly Update Highlights Ongoing Progress

Meteoric recently released its Quarterly Activities Report for the three-month period ended 30 September 2025. During the quarter, the company published the Pre-Feasibility Study for the Caldeira Rare Earth Project, outlining long-term development plans. A maiden ore reserve was also declared, based on extensive drilling and sampling data collected to date. These updates formed part of the broader operational narrative during the reporting period.

Advancement of Processing and Pilot Operations

Post quarter-end, Meteoric reached a key milestone with the official opening of the Caldeira Rare Earth Project Pilot Plant on 15 December 2025 in Poços de Caldas, Brazil. The facility, located at the company’s Innovation and Research Center, has an initial processing capacity of 25 kilograms of ionic clay per hour. It integrates all stages required to convert mineralised clays into mixed rare earth carbonate, including leaching, precipitation, and dewatering.

The pilot plant represents a significant step in advancing downstream processing capabilities and supporting future development planning. The investment in the facility is approximately AUD 1.5 million and is expected to enable annual production of around 500 kilograms of mixed rare earth carbonate. Data generated from pilot operations is intended to be incorporated into the forthcoming definitive feasibility study.

Operational Readiness and Future Studies

In recent months, Meteoric has recruited and trained personnel to operate the pilot plant, ensuring readiness for continuous operations. The facility is also designed to evaluate rare earth separation pathways, including solvent extraction and alternative technologies aimed at enhancing value addition within Brazil. Commissioning of the pilot plant is expected to support ongoing metallurgical and process optimisation studies.