Australia's Meteoric Resources rises after rare-earths supply deal

Neo Performance Materials

02/05/2024 05:32

** Shares of Meteoric Resources  MEI.AX  rise as much as 7%
to A$0.230, their biggest intraday percentage gain since March
14
    ** The rare-earths explorer says it will supply 3,000 metric
tons of rare-earths oxide (REO) per year to Toronto-listed Neo
Performance Materials  NEO.TO 
    ** Adds NEO's rare-earths separation factory in Estonia is
expected to purchase REO from initial output of MEI's Caldeira
project in Brazil
    ** Stock down 17.3% YTD, based on last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))