Overview
- Critical Metals signed a letter of intent to supply REalloys with 15% of annual rare‑earth concentrate from the Tanbreez project in southern Greenland.
- The company announced a $35 million PIPE with an institutional investor, issuing 5 million shares and warrants for 10 million shares at a $7 strike to advance Tanbreez.
- Reuters reported discussions about converting a $50 million Defense Production Act grant into a roughly 6%–8% equity stake, but a White House official said no deal is being actively pursued.
- Shares spiked more than 60% on the Reuters report and later pulled back after the White House comment, with trading remaining volatile.
- Critical Metals moved to lift its ownership of Tanbreez to 92.5% under an amended agreement pending Greenland approval, and it disclosed restated financial statements for prior periods.