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Meteoric Resources Says Brazil Plant Continues to Deliver 'Robust Recoveries,' Shares Fall 3%

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-- Meteoric Resources (ASX:MEI) said its Caldeira pilot plant in Brazil continues to deliver "robust recoveries" and consistent mixed rare earth carbonate production at or higher than nameplate capacity, according to a Thursday filing with the Australian bourse.

During the March quarter, the company received a $50 million conditional letter of support from Export Finance Australia for indicative Caldeira financing, it said.

Definitive feasibility study workstreams are progressing, and Meteoric Resources is advancing toward a final investment decision with a cash balance of AU$18 million at the end of March.

Shares of the company fell 3% in recent Thursday trade.

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