Highlights

  • Three brokers maintain buy ratings on Meteoric Resources.
  • Current target prices suggest upside of 70–185% from current levels.
  • The company has secured key environmental consents for the Caldeira Rare Earth Project.
  • Pilot Plant construction approved and set to commence, supporting full-scale production.

Meteoric Resources NL (ASX:MEI) has received a positive endorsement from three independent brokerage firms, all assigning a buy rating on the stock. The company’s current recommendation sits at a consensus buy. Canaccord Genuity’s analyst set target prices of AUD 0.35, reflecting 100% increase from current price. Ord Minnett has set target price of AUD 0.30 and SCP Resources Finance LP expects 185.71% increase in share price to AUD 0.50.

Recent Business Update

On 3 October 2025, Meteoric confirmed that it had secured consent to conduct operations within the three-kilometre buffer zone surrounding the Environmental Protection Area (EPA) of the Serra da Pedra Branca Ecological Sanctuary. The Council of Management for the Environmental Protection Area (CONGEAPA) granted approval following comprehensive research and stakeholder consultations, including studies on local flora, fauna, and ethnographic considerations. With this clearance, Meteoric can proceed with mining operations within the buffer zone while remaining in compliance with environmental regulations.

In parallel, Meteoric has advanced its Pilot Plant initiative for the Caldeira Rare Earth Project. On 4 September 2025, the Company received formal approval from the Minas Gerais State Secretariat for the Environment and Sustainable Development (SEMAD) to construct and operate a rare earth pilot processing facility in Poços de Caldas. The facility is designed to process up to 25 kilograms of ore per hour, producing approximately 2 kilograms of Mixed Rare Earth Carbonate (MREC) daily. This pilot-scale capability will allow Meteoric to optimise operational parameters, refine design flowsheets, and provide MREC samples to offtake customers in preparation for full-scale production.

Construction and commissioning of the Pilot Plant are scheduled to begin immediately, with full-scale operations expected to start in late October 2025. The facility, with an estimated capital cost of AUD 2 million, is fully equipped, and the majority of equipment is already on site awaiting the final Construction and Operational Licence.

The company continues to progress through other critical regulatory processes, including approvals from the National Mining Agency (ANM) and the Minas Gerais Environmental Protection Agency (EPA). With all required municipal consents now secured for the Preliminary Licence (LP) approval, Meteoric is well-positioned to maintain its development timeline for the Caldeira Rare Earth Project.