Meteoric Resources NL (MEI) Q1 2027 TU earnings summary

Executive summary

• Caldeira DFS supports a >20-year rare earths mine plan at 6Mtpa, backed by an updated 146Mt Probable Ore Reserve and ongoing pilot-plant testing.

• Global Mineral Resources rose to 1.631Bt at 2,317ppm TREO; Measured Resources increased 246% to 128Mt at 2,815ppm TREO.

• After quarter-end, Lynas agreed to acquire all issued shares through a scheme of arrangement, subject to shareholder and Court approval.

Financial highlights

• Quarter-end cash was A$29.318m; net operating cash outflow was A$5.893m and investing cash outflow was A$2.560m.

• Financing cash inflow was A$38.942m, including A$40m proceeds from equity securities and A$1.058m transaction costs.

• Exploration and evaluation expenditure was A$5.0m for the quarter; payments to related parties were A$421,000, comprising directors’ fees and salaries.

Outlook and guidance

• DFS assumes initial processing capacity of 6.0Mtpa; LOM average annual TREO production is 12,500t, with 54% TREO recovery and 71% MREO recovery.

• Licensing responses, potentially including additional field studies, are expected by end-Q4 2026; the LI award is now anticipated in early 2027, with no material impact expected on the broader development pathway.

• Lynas’ proposed acquisition remains subject to scheme conditions, including shareholder and Court approval.