Company Overview - Critical Metals Corp has completed Stage 1 of its acquisition plan for a controlling interest in the Tanbreez Greenland Rare Earth Mine, increasing its stake to 42% after issuing 8.4 million shares to Rimbal for a 36.45% interest [1][16] - The company is focused on critical metals and minerals essential for electrification and next-generation technologies, with its flagship asset being the Wolfsberg Lithium Project in Austria [9][16] Acquisition Details - The acquisition involves a two-stage issuance of shares, with contingent milestones including a $10 million exploration expenditure within two years to potentially increase its stake to 92.5% [12] - The Tanbreez Project is estimated to contain 4.7 billion tonnes of resources, including 28.2 million tonnes of total rare earth oxides, with heavy rare earth elements making up over 25% of the resource [17] Strategic Importance - The acquisition of Tanbreez is seen as a pivotal milestone for Critical Metals Corp, positioning the company as a reliable supplier of rare earth elements to meet growing demand in technology and defense sectors [8] - The project is supported by extensive due diligence, including over 414 drill holes and 366,000 assays conducted, providing a comprehensive understanding of the deposit's geology and geochemistry [5][8]

The Company intends to use the proceeds of the offering for the exploration on the Quebec side of the Company's Pense-Montreuil Project which straddles the Ontario-Quebec border. Historical work has identified zinc-copper-nickel mineralization with minor cobalt values. Airborne electromagnetic and magnetic surveys ("EM" and "MAG") and follow-up ground truthing by the Company have identified over 5 untested, short strike length, EM and coincident magnetic anomalies on the Quebec portion of the project with g ...

Core Viewpoint - Critical Metals Corp and Obeikan Group have established a joint venture named Arabian New Energy to develop a lithium hydroxide processing plant in Saudi Arabia, aimed at supporting the European market's demand for lithium products [1][2][3]. Group 1: Joint Venture Details - The joint venture will be a 50%/50% partnership focused on constructing and operating a lithium hydroxide processing plant that will convert lithium spodumene concentrate sourced from the Wolfsberg Lithium Project in Austria [2][8]. - Arabian New Energy will have exclusive rights to purchase spodumene mined from the Wolfsberg resource, with pricing terms to be finalized between the parties [2][8]. - A Development Committee will be established to oversee key decisions related to the plant's development [2]. Group 2: Strategic Importance - This partnership combines the technical expertise of Critical Metals Corp with the industrial knowledge of Obeikan Group, leveraging Saudi Arabian financial markets to advance the goals of Vision 2030 [3][9]. - The Wolfsberg Lithium Project is strategically located in Austria and is the first fully permitted lithium mine in Europe, expected to be a major producer of lithium products for the European market [3][9]. Group 3: Future Plans - Critical Metals Corp plans to finalize the Definitive Feasibility Study (DFS) for the projects and secure funding for construction in the upcoming quarters [9]. - The Board of the newly formed Arabian New Energy will oversee the construction of the hydroxide plant, with funding sourced from within Saudi Arabia [9].

NEW YORK, June 28, 2024 (GLOBE NEWSWIRE) -- Critical Metals Corp. (NASDAQ:CRML) ("Critical Metals Corp"), a leading mining development company focused on critical metals and minerals and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners, today announced that it has been selected for inclusion in the Russell 2000® Index, Russell 3000® Index, and the Russell Microcap® Index, effective at the open of US equity markets on Monday, ...