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Meeka Metals (ASX:MEK) has popped again through lunchtime Thursday, to the tune of +10% for 18cps as the company begins commissioning a processing plant for its Western Australian-based Murchison gold project.
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It’s a good time to be a Meeka shareholder. High gold prices, good geology, and a management team who aren’t really too fussed with media engagement, being more interested in getting on with the job.
But the ultimate jewel that makes Meeka worth the 18cps the market has landed on for Thursday is simpler to understand: The company is one of the very few that’s gone from explorer to producer in the 2020s.
One-year returns reflect that: The stock is up over +450% over the last twelve months, and it’s up +130% since January.
That’s not bad, and especially not for a stock that’s been listed since 2007 under various names and has 2.5 billion shares on issue.
But it’s been 2025 that has been the best for the company – and building out a downstream capacity reflects that as much as its shares.
Liquidity is decent, but the stock isn’t necessarily one of the most watched on HotCopper. Still, it’s been having a pretty good run for 2025.
And it doesn’t hurt that investors have some degree of certainty, now, around when to expect the first ore from the company’s underground mine.
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“We are now focused on maximising the expanded open pit mining opportunity following the success we are having with the drill bit. Additionally, first ore is expected from our first underground mine at Andy Well in the September 2025 quarter,” company chief Tim Davidson said (no relation).
What the market will look for after that is obvious: Sales, sales, sales. That, and whether or not Meeka wants to process anybody else’s ore from around the neighbourhood.
MEK last traded at 18cps.
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