Critical Metals Corp Amends Agreement to Acquire a Controlling Interest in Tanbreez

Core Viewpoint - Critical Metals Corp has amended its agreement to acquire a larger ownership stake in the Tanbreez Greenland Rare Earth Mine, increasing from 42% to 92.5% through the issuance of approximately 14.5 million ordinary shares to Rimbal Pty Ltd, which is valued at $8.00 per share [2][4][6]. Group 1: Acquisition Details - The amended agreement allows Critical Metals Corp to increase its ownership stake in the Tanbreez Project from 42% to 92.5% by issuing approximately 14.5 million ordinary shares to Rimbal [2]. - The original agreement required an unspecified number of shares valued at $116 million for the ownership increase, but the amended agreement specifies a firm number of shares [2]. - Rimbal has waived the previous condition that required an additional $10 million investment from Critical Metals Corp before qualifying for the increased ownership stake [4]. Group 2: Project Significance - The Tanbreez Project is described as a game-changer for the rare earths supply chain in the West, containing a significant concentration of high-grade heavy rare-earth elements and gallium within a resource of 4.7 billion metric tons [6]. - The project is strategically located in Southern Greenland, with access to year-round direct shipping via deep water fjords leading to the North Atlantic Ocean [7]. Group 3: Company Positioning - Critical Metals Corp aims to become a reliable and sustainable supplier of critical minerals essential for defense applications, clean energy transition, and next-generation technologies in the western world [9]. - The company also holds the Wolfsberg Lithium Project in Austria, which is the first fully permitted mine in Europe and is expected to be a major producer of lithium products for the European market [8].