Well MEI still seems to be going under the radar despite the massive potential cobalt grades 
(as well as the copper and nickel) so I thought it was time we started to get some structure to the threads on here and thought a fundamentals thread for new comers or people looking for a good cobalt play (and more) was a good start. Everyone please feel free to add as I am only going on my notes before I invested a few weeks ago and extracts from the recent announcements and quarterly but I'm sure there is a lot more longer term holders can add.
The big pluses I saw for investment were:
1. Low no of shares on offer and very low M/C for the potential resource
2. Amazing potential cobalt grades of up to 15%...this compares to Australian cobalt grades of less than 0.5% in companies with a much bigger MC
3. Cash in bank and low admin cash burn
4. Good management
5. Lots of upcoming news
Company & Capital Structure
- Current M/C $30m (fully diluted)
- 454m shares
- 9m options exercisable at 1.2c by 9/9/2020
- 8.15m options exercisable at 2c by 30/6/2018
- Tolga Kumova owns 6.75%
- $1m cash on hand as at 30/9/17 and expected cash burn this quarter $0.35m with only $0.1m for admin costs
- In todays announcement:
Meteoric’s current exploration programmes at the Midrim Cu-Ni-Co & PGE property and at the Mulligan and
Iron Mask cobalt properties are fully funded and is part of the company’s strategy to rapidly advance its portfolio
of Canadian projects (so no CR expected in the near future or at least until results are in)
MEI Major Projects in mining friendly Canada
Iron Mask - Cobalt
- 8 claims covering 14.2 km2
- MEI claims located 500m along strike from "Iron Mask shaft" with historical production averaging 15% Co + 255g/t
- EM and magnetic surveys indicate extension of mineralized zones into MEI’s claims
Mulligan - Cobalt
- 50km North of prolific Ag-Co mining camp of Cobalt, Ontario
- Historic production averaging 10% Co
- Production run sampled grades of up to 19% Co and 56.7 g/t Au
- Canadian Department of Mines Sample (23720)
o 12.6% Co, 29.75 g/t Au, 39.7 g/t Ag and 1.03% Ni
The company has announced the commencement of a Cobalt exploration program targeting the Iron Mask
and Mulligan projects.
1. The initial program at Mulligan will consist of:
- geological mapping; rock chip sampling and identification of possible channel sampling locations
- collection of 300 soil samples and 7.3 line kms of IP surveying at 25m intervals along 100m spaced
lines
- ground magnetics continuously recorded along 100m spaced lines
-2. The initial program targeting Iron Mask will include geological mapping and rock ship sampling as well as the
identification of potential channel sampling locations.
- Results due back in Q4 2017 to target future drilling programs
Midrim & Laforce - Polymetallic (Co/Cu/Ni)
- 223 claims covering 118 km² of highly prospective ground within BAG
- 46,000m of historical drilling, only partially assayed
- Over AU$4.5m in historical drilling value
- Significant platinum and palladium mineralisation associated with Cu-Ni mineralisation
- 36 aerial EM targets identified over the Baby segment of BAG, with 24 of these conductors located on
MEI’s ground
- Exceptional historical drilling results, targeting the Midrim deposit, forming one of the 24 EM
conductors
- Verification assay program of 9 holes targeting Midrim mineralisation finalised
- Recent assays reproduce the previously reported historical high grade shallow Cu-Ni-PGE
intercepts
Highlight intercepts identified within the assaying program include:
o MR01-17: 10.15m @ 3.45% Cu, 1.65% Ni & 4.03 g/t PGE from 10.20m depth
o MR01-29: 18.85m @ 2.64% Cu, 1.72% Ni & 2.47 g/t PGE from 17.6m depth
- Drill program targeting Midrim and Lac Croche mineralisation commenced today
- Re-interpretation of historical Midrim Project EM and aeromagnetic surveys completed
- 19 untested targets identified, including 7 high-priority targets and possible extensions to
Midrim Cu-Ni-PGE mineralisation
