M&A

Keystone cops-like deal puts Meteoric in tricky situation

MANAGEMENT involved with investment firm Keystone Resources and subsidiary Alchemist have suddenly pulled the pin on an agreed US$20 million deal involving Meteoric Resources and the set-to-be-sold Jurena gold project in Brazil, with the former losing a US$2.5 million initial payment and the latter now being forced to undertake a capital raise to meet its commitments for the Caldeira rare earths opportunity, also in Brazil.