Meteoric Resources Completes AU$40 Million Capital Raise; Shares Fall 4%

MT Newswires Live

Apr 29

Meteoric Resources (ASX:MEI) completed its AU$40 million equity raising, issuing 235 million new fully paid ordinary shares at AU$0.17 apiece to institutional and sophisticated investors, according to a Wednesday filing with the Australian bourse.

The funds will be used to support advancement and pre-development activities at the Caldeira rare earth ionic adsorption clay project to support a final investment decision within the year, the filing added.

The company's shares fell 4% in recent Wednesday trade.

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