Core Viewpoint - Critical Metals Corp is advancing its strategic growth initiatives for 2025, focusing on critical metals and minerals essential for electrification and next-generation technologies, following a successful equity raise of $24.5 million [1][3]. Group 1: Project Development - The company is prioritizing the development of the Tanbreez Rare Earth Project in Southern Greenland and the Wolfsberg Lithium Project in Austria, positioning itself as a reliable supplier of essential metals for the West [2][9]. - For the Tanbreez Project, the company plans to ramp up pre-production activities and expects to release results from its 2024 field program by late March 2025, with a maiden SK-1300 compliant resource estimate anticipated by the end of Q2 2025 [4]. - At the Wolfsberg Lithium Project, the company aims to complete definitive feasibility studies for both the mine site in Austria and a lithium hydroxide plant in Saudi Arabia, developed in partnership with Arabian New Energy [5]. Group 2: Government Affairs and Support - The company has retained government affairs consultants to assist with engagement with U.S. and European authorities, anticipating government grant support based on submitted applications [7]. - The company is actively seeking to enhance its Board of Directors with experienced members to navigate the increasing government focus on critical mineral security in the U.S. [8]. Group 3: Corporate Governance - Critical Metals Corp plans to appoint two additional directors to its Board during Q1 2025, focusing on candidates with experience in U.S. federal government [8].

Core Viewpoint - Critical Metals Corp has secured approximately $22.5 million through a private investment in public equity (PIPE) financing to support the development of its mining projects in Greenland and Austria [1][5]. Financing Details - The PIPE financing involves the issuance of approximately 4.5 million ordinary shares at an offer price of $5.00 per share, along with warrants to purchase ordinary shares at a strike price of $7.00, expiring in four years [2][7]. - The funds raised will be utilized for the development of the Tanbreez Rare Earths Project and the Wolfsberg Lithium Project, as well as for general corporate purposes [3][5]. Project Significance - The Tanbreez project is noted as one of the world's largest rare earth deposits located in Greenland, while the Wolfsberg Lithium Project is the first fully permitted lithium mine in Europe, strategically positioned to support the European market [10]. - The company aims to become a reliable supplier of critical minerals essential for defense applications and clean energy transition [10]. Strategic Context - The funding comes in the context of geopolitical developments, including a Chinese export ban on rare earth materials, positioning Critical Metals Corp to enhance its role as a supplier of critical minerals to the West [5]. Advisory and Legal Support - Jett Capital Advisors, LLC, Cohen & Company Capital Markets, and EAS Advisors, LLC acted as placement agents for the financing, with legal support from White & Case LLP and Morgan, Lewis & Bockius LLP [6].

Core Viewpoint - Critical Metals Corp has adopted a comprehensive bitcoin treasury strategy, making it the first Nasdaq-listed critical minerals company to do so, aiming to strengthen its balance sheet and create long-term shareholder value [1][4]. Financing and Investment Strategy - The company may access up to $500 million through convertible note financing led by JBA Asset Management, with an initial tranche of $100 million available for BTC purchases [2]. - The first tranche is issued with 100% warrant coverage, while subsequent tranches totaling up to $400 million will have 50% warrant coverage [2][3]. - The convertible notes are secured by cash raised and any BTC purchased, convertible into common stock at a fixed price of $6.00 per share [3]. Management Commentary - The Executive Chairman and CEO emphasized that incorporating bitcoin into the treasury management strategy is innovative and aligns with broader government initiatives for bitcoin adoption, providing inflation protection and appreciation potential [4]. - The strategy is designed to be flexible, allowing the company to modify its approach based on market dynamics and cash flow requirements [4]. Company Overview - Critical Metals Corp focuses on critical metals and minerals essential for electrification and next-generation technologies, with flagship assets including the Wolfsberg Lithium Project and the Tanbreez Greenland Rare Earth Mine [6]. - The Wolfsberg Lithium Project is the first fully permitted mine in Europe, strategically located to support the European market [6]. - The company aims to be a reliable supplier of critical minerals for defense applications and clean energy transitions in the western world [6].

TORONTO, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV-SRI) ("Sparton" or the "Company") is pleased to report a number of material events: Sparton has received assay results from the initial drilling program on the Pense Critical Metals Project in northeastern Ontario, confirming the presence of critical metals and also gold mineralization on the property.The Company has exercised its option to acquire a 100% interest in the Pense Property. VRB Energy Inc. has reported progress in establish ...

Group 1 - SPACs (Special Purpose Acquisition Companies) provide a streamlined method for private companies to go public, bypassing the complexities of traditional IPOs [1] - SPACs have attracted significant investor interest, particularly from those looking for alternative investment opportunities [1] Group 2 - Grassroots Trading emphasizes objective and unbiased research, focusing on small- to mid-cap companies while also identifying opportunities in larger companies [1]

Trading and Financial Information - The company's ordinary shares and warrants began trading on the Nasdaq Capital Market on February 28, 2024, under the symbols "CRML" and "CRMLW" respectively[254]. - There are currently no significant changes reported in the company's financial information[254]. - The Company is subject to the informational requirements of the Exchange Act, including filing reports with the SEC[305]. - The Company is exempt from certain rules under the Exchange Act, including those related to proxy statements and short swing profit recovery provisions[306]. Tax Considerations - The company has not sought any IRS rulings regarding U.S. federal income tax considerations for U.S. Holders[283]. - The tax treatment of cashless exercises of Public Warrants remains unclear under current tax law[266]. - U.S. Holders may face different tax consequences if the company is treated as a Passive Foreign Investment Company (PFIC)[269]. - The company has not provided assurance regarding the timely knowledge of its PFIC status in the future[273]. - The company does not intend to seek any rulings from the IRS regarding tax matters discussed[283]. - The Company has not made a determination regarding its Passive Foreign Investment Company (PFIC) status for its most recent taxable year, which is assessed annually based on income and asset composition[291]. - If classified as a PFIC, U.S. Holders may face adverse tax rules on gains recognized from the sale of ordinary shares or Public Warrants, including excess distributions[292]. - U.S. Holders can avoid excess distribution rules by making a timely Qualified Electing Fund (QEF) election, which allows them to include their share of the Company's net capital gains and earnings in income[294]. - The QEF election is made on a shareholder-by-shareholder basis and can only be revoked with IRS consent[295]. Financial Performance and Condition - The company incurred net losses of $147.5 million and $5.5 million for the years ended June 30, 2024, and June 30, 2023, respectively[407]. - As of June 30, 2024, the company had net cash outflows from operating activities of $15.1 million and a working capital deficit of $13.8 million[407]. - The company raised cash proceeds of $10 million from PIPE Financing in connection with the Business Combination[383]. - Following the Business Combination, the company received $879,934 from the exercise of Public Warrants and $6 million from Private Warrants[408]. - The company plans to seek additional capital through equity or debt financing to fund ongoing operations and future capital needs[385]. - The company does not expect to declare any dividends in the foreseeable future[377]. - The company is dependent on its ability to successfully access capital and financial markets to fund its operations and growth[385]. - The company has significant increased expenses and administrative burdens as a result of being a public company[373]. - The company faces substantial doubt about its ability to continue as a going concern unless it raises additional capital[382]. Internal Controls and Audit - The Company lacks necessary controls for accurate accounting of related party transactions and complex financial instruments[313][314]. - The Company identified six significant deficiencies in internal control over financial reporting, including issues with accounts payable and accrued expenses[361]. - The Company aims to implement measures to remediate identified deficiencies, although no assurance can be given regarding their sufficiency[363]. - The Company has concluded that there are significant deficiencies in internal control over financial reporting, which could result in material misstatements[358]. - The Company reported audit fees of $260,960 for the fiscal year ended June 30, 2024, compared to $123,085 for the previous year, representing a 112% increase[365]. - Audit-related fees increased to $94,760 in 2024 from $42,230 in 2023, reflecting a 124% rise[365]. - Total fees for professional services amounted to $355,720 in 2024, up from $165,315 in 2023, indicating a 115% increase[365]. Market and Operational Risks - The Company is subject to market risks, including credit risk and foreign currency exchange risk, which could adversely affect financial performance[335][336]. - The Company lacks adequate cybersecurity measures, which could lead to financial loss and operational disruptions[342]. - The company is classified as a foreign private issuer and complies with British Virgin Islands corporate governance practices[350]. - The Company has not maintained sufficient personnel to ensure proper segregation of duties in accounting and information systems[340]. - The company has not realized any revenues to date from the sale of lithium or any other critical minerals mined from its properties[415]. - The company is substantially dependent on the continued growth of the electric vehicle industry and other industries focused on next-generation technology[418]. - The company faces significant risks including higher than expected extraction costs and lower than expected grades of lithium concentrate[416]. - The company’s future performance is difficult to evaluate due to its limited operating history in the mining and battery metals sector[434]. - The company’s success largely depends on long-term market prices for lithium and rare earth products remaining higher than its realized costs[443]. - The company anticipates that its products may be delivered to customers on an early trial deployment basis, which could affect future orders[422]. - The company’s ability to generate revenues and operate profitably depends on its ability to negotiate and maintain binding sales agreements with customers[440]. Business Agreements - The company has entered into a long-term Offtake Agreement with BMW, which includes an advance payment of $15.0 million, secured by a bank guarantee[441]. - The company aims to derive revenues from the extraction and sale of lithium hydroxide, rare earths, and their byproducts, but prices may fluctuate widely due to various uncontrollable factors[425]. - The company has declared mineral resources related to the Wolfsberg Project but has not yet begun to extract minerals from any of its properties[433].

Core Insights - Critical Metals Corp has identified two new high-grade areas of rare earth materials in the Tanbreez Project, enhancing the project's upside potential significantly [2][3] - The company has secured a reliable and cost-effective power supply through collaboration with the Greenland Government, optimizing its development strategy [2][3] Project Development - The Tanbreez Project is one of the largest rare earth assets globally, located in Southern Greenland, and aims to produce up to 3.0 metric tons of rare earth materials annually [3] - The mining strategy has evolved to focus on run of the mill ore with a ZrO2 grade of 1.7-1.9%, producing a concentrate with 10% ZrO2, 2.5% REO (30% heavy REO), 1.0% Nb2O5, and 0.15% Ta2O5 and HfO2 [3] High-Grade Areas - Three high-grade areas were examined during the past field season, including: - Horizon Zero, with a thickness of 2-5m and a grade of about 5% ZrO2, previously not intended for mining [4] - Area G, featuring high-grade pegmatites with grain sizes up to 30cm, facilitating extraction [4] - EALS, a newly discovered zone with extreme grades and grain sizes reaching up to 3m [4] Strategic Positioning - Critical Metals Corp is focused on producing strategic products essential for electrification and next-generation technologies for Europe and its partners [1][5] - The Wolfsberg Lithium Project, another key asset, is positioned to become a major producer of lithium products in Europe, enhancing the company's critical metals portfolio [5]

Core Insights - Critical Metals Corp has received an extension for its exclusive Exploitation License from the Greenland government for the Tanbreez Project, a significant milestone indicating local support and job creation potential [1][2][3] - The company has successfully completed its diamond drilling program, with rare earth material samples sent for analysis, and results are expected in the coming months [1][4] Exploitation License Extension - The Greenland government has extended the deadlines under the Exploitation License for the Tanbreez Project (License No. 2020-54) to 2028, requiring the submission of exploitation and closure plans by the end of 2025, financial security and company guarantee by June 30, 2026, and commencement of mineral exploitation by the end of 2028 [3] Diamond Drilling Program - The diamond drilling program has concluded, with all extracted rare earth materials safely stored, and a portion sent to ALS laboratory in Ireland for analysis, with test results anticipated over the next several months [4]

NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) ("Critical Metals Corp"), a leading mining development company focused on critical metals and minerals and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners, today announced the launch of a diamond drilling program at the Tanbreez Greenland Rare Earth Mine (the "Tanbreez Project"). The drilling program consists of 14 holes with a total cumulativ ...

. ● ● Hasetins Intensifies Exploration for Critical Metals August 19, 2024 12:22 PM EDT | Source: United Press Geneva, Switzerland--(Newsfile Corp. - August 19, 2024) - Hasetins announces an increase in exploration investment for critical metals across its global mining operations. The move is aimed at driving growth in production capacity and increasing the supply of these much needed metals across the globe. With the ever-increasing demands for critical metals, Hasetins has invested in advanced exploratio ...