Key Highlights
- Critical Metals (CRML) climbed 30% following Greenland’s approval of the transfer of a 50.5% stake in Tanbreez Mining, increasing total ownership to 92.5%.
- The Tanbreez site contains eight heavy rare earth elements essential for defense systems, clean energy infrastructure, and cutting-edge technology.
- Texas Capital launched coverage with a Buy rating and $20 price target, representing 126% potential upside.
- The company secured a $120M letter of intent from EXIM Bank along with a $30M acceleration program currently in progress.
- Initial ore production is scheduled for late 2028 to early 2029, with concentrate shipments expected to begin in Q3 2029.
Critical Metals Corp. (CRML) experienced a 30% surge in share price on Friday following confirmation that Greenland’s government approved the transfer of the remaining 50.5% stake in Tanbreez Mining Greenland A/S to the company.
This regulatory approval elevates Critical Metals’ complete ownership position in the Tanbreez project to 92.5%. European Lithium Ltd (EUR) maintains the remaining 7.5% interest while holding 37.5% of Critical Metals itself.
The Tanbreez project operates in Southern Greenland and hosts eight critical heavy rare earth elements. These resources serve essential roles in defense applications, renewable energy systems, and high-tech manufacturing processes.
The location offers a significant operational benefit: year-round direct shipping capability via deep water fjords providing access to the North Atlantic Ocean. An international airport situated 12 km from the project site is expected to enhance logistics operations for workforce transportation and equipment delivery.
Capital Structure and Development Timeline Confirmed
Critical Metals secured a $120 million letter of intent from EXIM Bank designated for project development and financing activities. The company authorized a $30 million acceleration program designed to expedite drilling operations, infrastructure development, engineering studies, and metallurgical testing.
Pilot plant operations are scheduled to commence in May. A 150-tonne bulk sampling program is planned for launch in June.
The development timeline targets initial ore production during late 2028 to early 2029. Concentrate shipments are projected to start in Q3 2029.
During March, independent testing conducted at Fremantle Metallurgy validated a 40% enhancement in refined concentrate grade, achieving 2.96% TREO. This outcome exceeded the historical benchmark established in 2016.
Critical Metals maintains ongoing negotiations with supply chain partners across the United States, Europe, and Saudi Arabia. Each offtake partner is anticipated to receive a minimum allocation of 10 tonnes of high-grade pre-production eudialyte concentrate.
Texas Capital Launches Coverage With $20 Price Target
Friday brought additional momentum beyond the Greenland approval. Texas Capital launched research coverage of CRML with a Buy rating and established a $20 price target.
The target suggests 126% potential upside from present trading levels — a projection that captured immediate market attention.
Texas Capital characterized the Tanbreez asset as a potentially transformative component of the Western rare earth supply infrastructure. The research firm highlighted “compelling long-term scale, strong resource quality, and a strategic location serving both the US and European markets.”
With complete operational authority now in place, Critical Metals holds a more direct route to executing its stated development schedule. The timing of Texas Capital’s coverage initiation coinciding with the ownership transfer confirmation adds institutional validation to the company’s positioning.
