Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The latest announcement is out from Meteoric Resources NL ( (AU:MEI) ).
Meteoric Resources NL has signed contracts with Companhia Energetica de Minas Gerais SA (CEMIG) for the construction and operation of a 29Km transmission line to supply power to its Caldeira Rare Earth Project in Brazil. This development is significant as it not only ensures a stable power supply for the project but also strengthens the regional distribution network, benefiting the Poços de Caldas region. The transmission line will connect the project to Brazil’s national grid, allowing Meteoric to utilize 100% renewable power, aligning with its sustainability goals and potentially enhancing its industry positioning.
The most recent analyst rating on (AU:MEI) stock is a Buy with a A$0.30 price target. To see the full list of analyst forecasts on Meteoric Resources NL stock, see the AU:MEI Stock Forecast page.
More about Meteoric Resources NL
Meteoric Resources NL operates in the mining industry, focusing on the development of rare earth projects. The company is primarily involved in the exploration and development of mineral resources, with a significant market focus on rare earth elements, which are crucial for various high-tech and green energy applications.
Average Trading Volume: 11,262,322
Technical Sentiment Signal: Buy
Current Market Cap: A$607.4M
Find detailed analytics on MEI stock on TipRanks’ Stock Analysis page.