Australia's Meteoric Resources at 3-month high; Bell Potter lifts valuation, rating

Meteoric Resources NL

07/10/2025 05:28

** Meteoric Resources NL MEI.AX rises as much as 2.9% to A$0.175, highest since July 8

** Bell Potter raises valuation to A$0.25/share from A$0.14 after co received consent last week to undertake ops for Caldeira Ionic Clay Rare Earth Project

** Upgrades to "speculative buy" from "speculative hold"; sees permit as de-risking event

** Believes project, co may get some attention from Western nations seeking to diversify China-dominant rare earth magnet supply chain

** About 11.7 million shares traded, 1.9x the 30-day avg

** YTD, MEI soars 100%

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))