Meteoric raises funds for Brazilian REE hunt

ASX-listed Meteoric Resources has announced a A$25-million capital raising to fund exploration at Caldeira rare earth project, in Brazil.

The company on Tuesday said it has received firm commitments for the placement of 200-million new shares, at a price of 12.5c each, representing a 13.8% discount to its last closing price and a 5.9% premium to its 15-day volume weighted average share price.