Critical Metals Corp (Nasdaq: CRML) Delivers 2026 Objectives: 100% of Tanbreez, US$264.5 Million in Cash and 194.2 Million Shares Outstanding; Sets 2027 Roadmap
Key Highlights
- ➤Critical Metals (CRML) completed European Lithium acquisition, gaining 100% of Tanbreez
- ➤Cash reached approximately US$264.5 million after merger completion
- ➤Tanbreez Mining and Closure Plans approved through September 8, 2050
- ➤REalloys signed binding 15-year offtake covering up to 15% of concentrate
- ➤Tanbreez DFS targeted for Q4 2027; first ore targeted late 2028 to early 2029
Expert Statements
Tony Sage, Chief Executive Officer and Executive Chairman of Critical Metals Corp
“We started 2026 owning 42% of Tanbreez and we finish it owning all of it, with roughly $264.5 million in the bank. I also want shareholders to be clear on the share count, because I know it has caused confusion. There are 194.2 million shares outstanding. The 45.5 million shares that European Lithium held in us now sit inside the group and carry no rights. I want to thank every shareholder who stayed with us while the European Lithium transaction worked its way through the courts. Next year our focus is the feasibility study, the operating permits and the financing for Tanbreez, and the strategic review will decide what we do with everything else.”
Highlights * Acquisition of European Lithium completed on November 5, 2026. European Lithium is now a wholly owned subsidiary * Critical Metals Corp now owns 100% of the Tanbreez rare earth project in Greenland following the merger * Cash balance of approximately US$264.5 million immediately after completion * 194,219,631 ordinary shares outstanding. A further 45,536,338 shares held by the Company’s own subsidiary carry no voting or dividend rights and are excluded from that count * Tanbreez Mining Plan and Closure Plan approved by the Government of Greenland with the stated approval period extending to 2050 * Binding 15 year offtake agreement signed with REalloys covering up to 15% of Tanbreez concentrate production * Strategic review of all non core assets in progress * Tanbreez definitive feasibility study targeted for Q4 2027, with first ore targeted for late 2028 to early 2029, subject to permitting, financing and construction progress NEW YORK, Nov. 11, 2026 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today provided a corporate update following completion of its acquisition of European Lithium Limited (“European Lithium”), covering 2026 objectives achieved, the Company’s share structure and cash position, the strategic value of its asset portfolio, and its roadmap and objectives for 2027.
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