https://newsletter.en.creamermedia.com
Exploration|Gold|PROJECT|Resources|Testing|Drilling
Exploration|Gold|PROJECT|Resources|Testing|Drilling
exploration|gold|project|resources|testing|drilling

Meteoric’s gold project sale initially terminated, now completed

31st October 2023

By: Creamer Media Reporter

     

Font size: - +

The $20-million sale of the Juruena gold project, in Brazil, to Keystone Resources has been successfully completed, ASX-listed Meteoric Resources reported on Tuesday.

The parties agreed to the sale in June last year, with the first tranche of $2.5-million having been received in October 2022. Following issues with the sale in April 2023, the transaction was terminated.

Meteoric said that the parties had collaborated privately and that they had reached an agreement, with the balance of $17.5-million paid over to the company.

The funding from the sale of the gold project leaves Meteoric with a cash balance of $35-million, which will be used to advance its rare earth element (REE) project.

“The non-dilutive A$27-million-plus injection of funds will allow us to continue our rapid advance towards development, including a robust drilling programme targeting heavy-REE-focused exploration, mineral resource conversion, the Caldeira scoping study, and commencement of a pilot plant to generate sufficient quantities of REE carbonate to send out to potential offtake partners for testing,” commented executive chairperson Andrew Tunks.

 

Edited by Creamer Media Reporter

Comments

Latest Multimedia

Latest News

Magazine round up | 18 April 2025
Magazine round up | 18 April 2025
18th April 2025

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

UP showcases mining VR centre
UP showcases mining VR centre
16th April 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.195 0.28s - 170pq - 2rq
Subscribe Now