Meteoric Resources NL (ASX:MEI)
Perth, April 6, 2009 AEST (ABN Newswire) - Meteoric Resources NL (ASX:MEI) are pleased to announce that the Company has reached agreement with Indian Ocean Capital to place 6,618,182 fully paid shares with their client investors at an issue price of A$0.055 per fully paid share.
Following the placement, Meteoric will have 50,815,290 fully paid shares and 15,101,527 contributing shares on issue and cash and liquid investments of just over A$1 million after payment of raising costs.
An Appendix 3B New Issue Announcement will be released after the new shares have been issued and application will be made for their quotation.
The funds raised will be mainly directed to financing exploration of Meteoric's high priority gold project at Webb (see ASX release dated 26 March 2009) and its Robinson Range iron ore project, both in Western Australia. Meteoric is planning to fast track exploration of an outstanding gold target at Webb upon completion of the necessary permitting.
For more information on the company visit http://www.meteoric.com.au
About Meteoric Resources Nl
Meteoric Resources NL (ASX:MEI) is a Perth based rare earth company that is progressing its flagship Caldeira Project in Minas Gerais, Brazil and aims to become Brazil’s next rare earth producer. The Caldeira Project is a true Ionic adsorbed Clay (IAC) deposit with above industry TREO grades and excellent metallurgical recoveries using a standard Ammonium Sulphate (AMSUL) wash flowsheet. These grade and recovery characteristics allow a simple flowsheet to be developed to produce a Mixed Rare Earth Carbonate (MREC) with an anticipated low capital and operating costs. Meteoric aims to become a significant volume, low-cost producer and is committed to supporting and integrating into western supply chain opportunities.
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