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Critical Metals (CRML), a lithium and rare-earth minerals explorer, closed Friday at $12.56, up 35.49%. The stock surged after Greenland approved Critical Metals’ increased stake and expanded operating authority at the Tanbreez rare-earth project. Trading volume reached 72.8 million shares, about 427% above its three-month average of 13.8 million shares.
Major U.S. indexes finished higher on Friday. The S&P 500 advanced 1.19% to close at 7,125, while the Nasdaq Composite gained 1.52% to end at 24,468. Within diversified metals and mining, industry performance was mixed: MP Materials closed at $60.99 (-2.10%) and Lithium Americas ended at $4.84 (-0.62%) despite Critical Metals’ sharp rally.
Critical Metals’ jump followed Greenland’s approval of the company’s deal to increase its stake in the Tanbreez rare-earth deposit to 92.5%. The approval also expands the company’s operating authority at the project.
The approval clears the way for CRML to acquire the 50.5% of equity it did not already hold from Rimbal Pty Lmt.
Critical Metals said it views Tanbreez as one of the world’s largest rare-earth deposits. The project is associated with terbium and dysprosium, which are used in electric vehicles and a range of technologies in the defense and consumer electronics industries.
With the U.S. seeking to strengthen its critical minerals supply chain, the approval was widely viewed as a positive catalyst for the stock.
However, Critical Metals is pre-revenue, keeping the investment profile high-risk and high-reward even after the day’s gains. As the company develops its production plans, shareholder dilution remains a near certainty in the interim, according to the article.
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