Overview
- Critical Metals shares rose about 25% to 30% after Friday's approval, as Texas Capital initiated coverage with a Buy rating and a $20 price target.
- The transfer lifts CRML's stake in Tanbreez to 92.5%, while European Lithium retains 7.5% and holds a 37.5% equity position in CRML.
- CRML says a $120 million EXIM Bank letter of intent and a $30 million acceleration program will fund drilling, engineering, and infrastructure work.
- Pilot plant operations are slated for May, with a 150-tonne bulk sample planned for June to validate processing and guide scale-up.
- The company targets first ore in late 2028 to early 2029 and concentrate exports in Q3 2029 from a site with year-round deep-water shipping and a nearby new airport.