Mentioned:
A new major drilling program has just begun in Greenland. And a publicly traded company is behind it.
What’s happening:
- Critical Metals (NASDAQ: CRML) has started a new 10,000 metre diamond drilling program at their flagship Tanbreez project located in Greenland
Why it matters:
- The Tanbreez project is widely considered to be one of the single largest undeveloped rare earth properties in the world
Going deeper:
- Critical Metals has publicly stated that their initial drilling will focus on mineralized zones which were identified through historical exploration and geological modelling
- Critical Metals previously raised $60M USD in an equity financing round at $10.00 USD per share to fund drilling, exploration, infrastructure design and mine planning at their Tanbreez project
The intrigue:
- REalloys (NASDAQ: ALOY) and Critical Metals just recently made major waves when they struck a new offtake deal in which Critical Metals will supply REalloys with 15% of the total rare earth feedstock produced from their Tanbreez project
