Key Highlights
- Critical Metals (CRML) shares surged 30% following Greenland’s approval to transfer a 50.5% stake in Tanbreez Mining, boosting total ownership to 92.5%.
- The Tanbreez mining site contains eight critical heavy rare earth elements essential for defense applications, renewable energy, and cutting-edge technology.
- Texas Capital launched coverage with a Buy recommendation and $20 price target, suggesting potential upside of 126%.
- The company secured a $120M letter of intent from EXIM Bank and launched a $30M acceleration initiative.
- Initial ore production is expected between late 2028 and early 2029, with concentrate shipments beginning in Q3 2029.
Critical Metals Corp. (CRML) experienced a dramatic 30% stock price increase on Friday following the Greenland Government’s approval of the transfer involving the remaining 50.5% stake in Tanbreez Mining Greenland A/S.
With this regulatory approval, Critical Metals now controls 92.5% of the Tanbreez project. European Lithium Ltd (EUR) maintains the remaining 7.5% interest while also holding a 37.5% stake in Critical Metals.
Located in Southern Greenland, the Tanbreez project houses eight strategic heavy rare earth elements. These materials are crucial inputs for defense infrastructure, renewable energy systems, and sophisticated technology applications.
The site benefits from a significant logistical advantage: uninterrupted year-round shipping capabilities via deep water fjords connecting to the North Atlantic Ocean. Additionally, a newly constructed international airport situated just 12 km away is expected to streamline transportation of workers and equipment.
Funding Structure and Development Timeline Established
Critical Metals has secured a $120 million letter of intent from EXIM Bank to fund project advancement and financing requirements. The company has also greenlit a $30 million acceleration initiative designed to expedite drilling operations, infrastructure construction, engineering studies, and metallurgical testing.
Pilot plant operations are scheduled to commence in May. A bulk sampling program involving 150 tonnes is planned for June.
The company projects initial ore production to occur between late 2028 and early 2029. Concentrate shipments are slated to launch in Q3 2029.
In March, independent analysis conducted at Fremantle Metallurgy demonstrated a 40% enhancement in refined concentrate grade, achieving 2.96% TREO. This result surpassed the previous benchmark established in 2016.
Critical Metals is actively negotiating with supply chain participants across the United States, Europe, and Saudi Arabia. Each offtake partner is anticipated to receive at least 10 tonnes of premium-grade pre-production eudialyte concentrate.
Texas Capital Launches Coverage With $20 Price Target Representing 126% Potential Gain
Friday’s developments extended beyond Greenland’s approval. Texas Capital also launched coverage of CRML the same day, issuing a Buy rating alongside a $20 price target.
This target represents a potential 126% gain from current trading levels — a projection that immediately captured market attention.
Texas Capital characterized the Tanbreez asset as a potentially critical component of the Western rare earth supply infrastructure. The firm highlighted “attractive long-term scale potential, robust resource quality, and a strategic geographic position serving both US and European markets.”
With complete operational authority now established, Critical Metals possesses a more direct route to implementing its development schedule. Texas Capital’s coverage initiation provides institutional credibility to the investment thesis on the same day the ownership transition received official confirmation.
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