Senior Debt Course of Initiated for Caldeira REE Venture

Meteoric Sources NL (ASX: MEI) (Meteoric or the Firm) is happy to announce it has initiated debt funding enquiries for its 100%-owned Caldeira Uncommon Earth Ionic Clay Venture, situated within the state of Minas Gerais, Brazil.

Because of the continuing development of Meteoric’s Caldeira Venture, the Firm has attracted the curiosity of each Export Credit score Companies (ECAs) and authorities lenders.

The Caldeira Venture is a globally vital endowment of Uncommon Earth parts, additional enhanced by its proximity to REE separation services within the Western Hemisphere. The Firm is gearing as much as mine and course of excessive worth Neodymium, Praseodymium (NdPr) and the extremely sought Dysprosium and Terbium (DyTb). These 4 magnetic uncommon earth parts are crucial for the era of important clear power for the long run.

With the help of Sprott Capital Companions (SCP), Meteoric has engaged Washington D.C.-based Woodford Sources for the preliminary section of the Senior Debt Financing course of. This has culminated within the Firm receiving a non-binding Letter of Curiosity from the US, Export-Import Financial institution (EXIM). Any financing help from EXIM following the Letter of Curiosity is topic to EXIM’s insurance policies, procedures, credit score necessities, and consideration by EXIM’s Board of Administrators

The indicative phrases of the potential financing are as follows:

• Facility quantity of as much as US$250M for United States origin gear, items and providers.
• Topic to, however not restricted to, typical situations for financing however not but outlined.
• The willingness and curiosity of each events to progress to a binding debt association.

Meteoric is constant to advance all facets of the Caldeira Venture, focussing on allowing, useful resource confidence, metallurgy and engineering research. These research are essential to the development of the EXIM due diligence course of as Meteoric targets a Monetary Funding Determination (FID) late in 2025.

Within the occasion that the financing is permitted by EXIM, the US$250M EXIM facility would have the potential to cornerstone a broad funding combine for the Caldeira Venture. Meteoric is constant to work with EXIM and different potential financiers and the main points of any agreements can be introduced on formalisation.

Chief Government Officer, Nick Holthouse commented,

“We’re delighted to start out this course of with the EXIM financial institution, an necessary step in our Debt Financing technique for the Caldeira Venture.

In recent times, there was elevated consciousness of the deficiencies within the Western Provide chains for Uncommon Earth mining and downstream processing. Meteoric, by way of the Caldeira Venture and help from the EXIM Financial institution, intends to play a component in re-building an unbiased and vertically built-in uncommon earth provide chain of scale. This is step one in de-risking the funding facet of Caldeira Venture and we look ahead to securing senior debt phrases over time as we progress allowing, useful resource engineering and metallurgical packages and advance in the direction of an FID.”