Highlights

  • Three brokers issue buy and speculative buy ratings on Meteoric Resources.
  • Price targets range between AUD 0.30 and AUD 0.50.
  • Highest upside potential estimated at 143.90% from current price.
  • Caldeira Ionic Clay Rare Earth Project continues to advance with environmental and pilot plant milestones achieved.
  • Project developments align with Brazil’s regulatory framework and U.S. strategic rare earth interests.

Meteoric Resources NL (ASX:MEI) has secured positive rating from three major brokers. SCP Resource Finance LP, Canaccord Genuity, and Ord Minnett have all issued positive ratings on the stock, setting target prices that indicate potential upside from current levels.

SCP Resource Finance LP has issued a buy rating with a price target of AUD 0.50, representing a 143.90% increase from the current trading price. Canaccord Genuity provided a speculative buy rating with a target of AUD 0.35, an upside of 70.73%, while Ord Minnett assigned a speculative buy rating with a target of AUD 0.30, reflecting an upside of 46.24%.

Environmental Approval Progress and Licensing Milestones

On 3 October 2025, Meteoric announced that it had received official consent to undertake operations within the 3kms buffer zone surrounding the Environmental Protection Area of Serra da Pedra Branca. This marks an important step toward securing full environmental licensing for the Caldeira Project.

The approval, granted by the Council of Management for the Environmental Protection Area of Pedra Branca (CONGEAPA), follows months of detailed environmental assessments and community consultations initiated in mid-2023. With municipal consents now in place, the Minas Gerais Environmental Protection Agency is progressing with the final stages of the Preliminary Licence (LP) review process.

The company confirmed that the Pilot Plant construction is expected to be completed soon, with commissioning and production of a Mixed Rare Earth Concentrate (MREC) expected by late November.

Successful Pilot Testing by ANSTO

Continuous piloting test work conducted by the Australian Nuclear Science and Technology Organisation (ANSTO) demonstrated excellent metallurgical recoveries and high-quality MREC production.

The tests, using a 2.5-tonne master composite from 154 drill holes at the Capão Do Mel deposit, achieved 70% magnet rare earth recoveries and 60% total rare earth oxide (TREO) recoveries with less than 2% impurities. The results confirm the project’s potential for high recovery rates, robust materials handling, and efficient water management.

Bulk samples from the pilot program have been produced for evaluation by potential offtake partners.

Path Forward

Meteoric Resources continues to make steady progress on multiple fronts, advancing the Definitive Feasibility Study (DFS), securing regulatory approvals, and preparing for the next phase of production.