LYSCF Lynas Rare Earths Limited

$LYSCF The clever part: it's an all-share deal This is something I actually like about the structure. Lynas isn't handing over billions in cash. Instead, Meteoric shareholders get approximately 5.9% of the enlarged Lynas. That means Lynas preserves its cash for the US$498m development investment and its other growth projects. There is dilution, of course, but it's relatively limited compared with Lynas's opportunity to acquire a resource that increases its resource base dramatically.

$LYSCF Lynas says the acquisition increases its mineral resources by 79% and ore reserves by 26%. That's substantial for a company that is already the largest significant rare-earth producer outside China. And Caldeira isn't just another conventional hard-rock deposit. It is an ionic-clay deposit, which is particularly interesting because these deposits can provide access to heavy rare earths such as dysprosium and terbium. The Caldeira resource contains estimated quantities of about 802,000 tonnes of NdPr and 41,000 tonnes of Dy/Tb

$LYSCF Lynas Rare Earths will acquire Meteoric Resources in an all-scrip deal valuing Meteoric at about A$1.45 billion, securing the Caldeira ionic clay rare earths project in Minas Gerais, Brazil. Caldeira is described as the largest known ionic clay rare earth oxide resource outside China, with a definitive feasibility study due in the March 2026 quarter and first production targeted for 2028. The move gives Lynas a major non-Chinese, non-hard-rock feed source for its existing cracking and separation plants in Australia and Malaysia. https://www.reuters.com/business/australias-lynas-rare-earths-buy-meteoric-resources-672-million-deal-2026-09-30/