Overview
- Critical Metals reported four non-binding offtake term sheets that allocate 100% of planned concentrate production from the Tanbreez project.
- The company disclosed an MoU with TQB to pursue joint ventures for processing and refining facilities in Saudi Arabia intended to serve U.S. supply chains.
- Management approved construction of a pilot plant in Greenland with operations targeted to begin by May 2026.
- CRML shares rose about 21% on Thursday and then gained 11.7% on Friday to close at $20.62, while Clear Street raised its price target to $20.
- Company statements emphasized that the term sheets and the TQB arrangement are not yet binding and will require definitive agreements and project financing.