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]
Critical Metals Corp Completes Stage 1 of the Tanbreez Acquisition, One of the World's Largest Rare Earth Deposits