Meteoric Resources NL (ASX:MEI) entered into a binding letter to acquire Caldeira Project in Brazil from Togni S/A Materiais Refratários on December 16, 2022. Meteoric Resources NL (ASX:MEI) entered into an agreement to acquire Caldeira Project in Brazil from Togni S/A Materiais Refratários for $20 million on march 13, 2023. The consideration will be paid to Togni as $5 million on or before 10 April 2023, $5 million on or before April 2, 2024, $5 million on or before April 2. 2025 and $5 million on or before April 2, 2026, which amounts are deemed to be advance payments for and therefore offset against the Royalty.

The $17.5 million from the sale of Juruena on March 31, 2023 will be used to complete the acquisition of the Caldeira Project. The transaction is expected to complete on or before April 10, 2023. As of April 10, 2023, transaction is expected to complete on April 11, 2023.