If I’d bought $2,000 worth of this ASX resources stock a year ago, I’d now have $46,000!
If you were lucky enough to own Meteoric Resources NL shares one year ago, you will no doubt be in a state of disbelief today in you held tightly to your investment. That’s because this time last year, things were not looking great for this ASX resources stock. At that point, rare earths weren’t even on the menu for the company and it was well and truly in penny stock territory with a share price under 2 cents. In fact, it stayed that way until late November before starting to break out in December. The catalyst for this breakout was a binding agreement to acquire the Caldeira Project for a total cash consideration of US$20 million.It is a tier one Ionic Clay Rare Earth Element project in the Minas Gerais State of Brazil. Its purchase was funded from the sale of its Juruena Gold Project for US$17.5 million.And what a swap this appear to have been for shareholders of this ASX resources stock!
