Meteoric Resources' (ASX:MEI) securing of a preliminary environmental license (LP) for Caldeira has reduced the project's risk weighting factor by 10%, Euroz Hartleys said in a note on Wednesday.
The rare earths company was granted the award by the State of Minas Gerais on Dec. 19, confirming the project's environmental viability.
The company expects approvals for the installation license in June, with the final investment decision targeted for mid-2026.
The brokerage maintained its speculative buy rating and increased the price target to AU$0.23 from AU$0.20.
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