Meteoric Resources' (ASX:MEI) share surge on Tuesday is likely due to rising interest in rare earth companies after recent export restrictions from China and new US government plans to build a strategic supply of rare earth materials, Euroz Hartleys said in a Tuesday note.
The company on Tuesday reported a mineral resource estimate at the Barro do Pacu license within the Caldera project in Brazil of 389 million tonnes at 2,204 parts-per-million grade of total rare earth oxides, including 77 million tonnes of indicated resources at a grade of 2,917 ppm TREO.
Euroz Hartley believes the stock surge can help the company's funding efforts.
The research firm said that Meteoric Resources' price target is currently under review.
the mining firm's shares surged 29% on market close.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。