Shares of Meteoric Resources (ASX:MEI) experienced a dramatic increase, peaking with a 14.9% rise to reach a price of A$0.270.

This marks its highest level of value since July 18th.

The company’s stock also experienced an overall increase of 12.8%, marking the most significant increase since the end of August.

Meteoric Resources, a diversified mining company, has reported that a metallurgical test affirmed the high potential of rare-earth ores at its onshore mine located in Australia.

Reports also indicate that over 9.3 million shares have changed hands, an increase compared to the typical 30-day average volume of roughly 7.0 million shares.

A noteworthy trend this year shows that as of the last closing, the company’s stock has risen by 343.4%.

Meteoric Resources is a diversified mining company focused on the discovery and development of precious and base metal deposits.