Meeka Metals (ASX:MEK) has released its September quarterly report, posting gold production of 7,237 ounces and throughputting 150Kt of both underground and stockpiled ore.
Shares were +5% higher to 9cps per CBOE live trading data as at 1.20pm AEDT but overall liquidity was comparatively low at less than $950,000 worth of shares trading hands in the early arvo.
Some 10.7M shares had passed on the exchange intraday Friday but the 4wavg sits higher at 28.9M. Im the background, however, the well-received result (by some investors) on Meeka wasn’t enough to sate all moods.
The second most watched thread on HotCopper (the first, before EOS came out with a fresh A$700M drone contract), some investors weren’t too impressed with the company – especially for one, given Meeka didn’t include any CapEx, cost, or AISC information in its quarterly update.
But that criticism may stem from a larger bitter truth: Meeka Metals has quickly become a “former darling” as its sensational run from mid-2024 to early 2026 appears to be running into problems.
We could go for a blow by blow of each announcement, or, we could take a look at the 5Y chart which makes the story quite clear.
Meeka’s all time high of 28.5cps made it a very hot talking point through 2025 and it was one of the most widely loved, and widely discussed stocks, on the website. Its status as a gold junior come good was the large drive behind that enthusiasm, some believed we could be looking at the next major producer.
But, so far, the company’s not producing enough gold to mint that perception, and clearly, some of the heat has died off. To be fair, there could be a good deal of caution in the room right now stopping investors wholemeal from embracing a not-entirely-derisked producer.
Join the discussion: See what’s trending right now on HotCopper, Australia’s largest stock forum, and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.