Critical Metals shares surge after Reuters report says Washington eyeing stake

Core Points - Shares of Critical Metals surged over 75% in premarket trading following reports of potential U.S. government equity stake discussions in the company [1] - The U.S. government is interested in Greenland's largest rare earths project, which aligns with President Trump's strategy to enhance domestic production of critical minerals [2][3] Company Overview - Critical Metals focuses on securing lithium and rare earths for U.S. and European markets and acquired the Tanbreez deposit in Greenland for $5 million in cash and $211 million in stock [3] - The company has applied for a $50 million grant under the Defense Production Act, with discussions ongoing about converting this grant into an equity stake [4] Market Performance - As of the last close, shares of Critical Metals have gained over 17% this year, resulting in a market capitalization of approximately $786.9 million [5]