PROJECT FINANCE

Meteoric gold mine sale provides cash for REE development

METEORIC Resources has finally completed the sale of its 390,000 ounce Juruena gold project in Brazil to Keystone Resources, adding A$27.65 million to the company’s cash balance, which will provide “sufficient” capital to fund near-term exploration of its highly touted Caldeira rare earths project in the state of Minas Gerais.

Meteoric gold mine sale provides cash for REE development

It said that after transaction costs of $550,000, Meteoric will be left with a cash balance of about $35 million. The deal was first announced in mid-2022. In a "rapid advance towards development",...

Start a free trial to continue reading this article
Already have an account?  
Subscribe now

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.