Highlights

• Critical Metals Corp obtains $120 million non-dilutive financing from EXIM Bank.
• Development plans for Tanbreez Rare Earth Project in Greenland.
• Project aims to produce 85,000 metric tons of rare earth material annually.
• Objective is to counter China's dominance in critical minerals.
• Company remains highly speculative with significant financial challenges.
• Gains strategic geopolitical support.

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In a major vote of confidence for Western rare earth independence, Critical Metals Corp. (Nasdaq: CRML) has secured a Letter of Interest for $120 million in non-dilutive financing from the Export-Import Bank of the United States (opens in a new tab) (EXIM). The funding supports pre-production and early mining activities at the Tanbreez Rare Earth Project in Southern Greenland, one of the world’s largest undeveloped rare earth deposits.

The 15-year term loan is issued under EXIM’s Supply Chain Resiliency Initiative (SCRI), part of its broader China and Transformational Exports Program (CTEP), which aims to counter China’s grip on critical mineral supply chains. The U.S. loan is expected to cover essential technical, economic, and infrastructure development through Tanbreez’s first phase. Commercial production is projected at 85,000 metric tons of rare earth materials per year, with total capital expenditure (capex) estimated at $290 million.

Company Snapshot – Critical Metals Corp (CRML)

• Headquarters: New York, NY

• Core Projects:

  • Tanbreez Rare Earths, Greenland – heavy REE-rich, year-round shipping access

  • Wolfsberg Lithium, Austria – EU’s first fully permitted lithium mine

• Strategic Role: Supplier of critical minerals for clean energy, electrification, and defense

• Stock Exchange: Nasdaq (Ticker: CRML)

• CEO/Chairman: Tony Sage

Relevance

This is one of the most significant U.S. government-backed moves to advance non-Chinese rare earth supply since EXIM’s 2019 reauthorization. It signals growing American willingness to finance upstream mining in allied territories directly. It also strengthens Greenland’s role as a NATO-adjacent mineral base, while positioning Critical Metals as a potential rare earth powerhouse.

Outlook

Final investment and permitting hurdles remain, but this deal vaults Tanbreez into the strategic front row of Western rare earth projects—and raises the bar for future U.S.-EU supply chain deals.

Profile

Critical Metals Corp, the developer behind the Tanbreez Rare Earth Project in Greenland and Wolfsberg Lithium in Austria, recently secured a $120 million Letter of Interest from EXIM Bank. While this milestone strengthens its strategic positioning in the rare earth space, a closer look at the company’s financials reveals a highly speculative and capital-intensive early-stage miner.

Key Financial Metrics

• Market Cap: $245.5 million
• Share Price: $2.49 (off 78% from 52-week high of $11.90)
• Revenue (ttm): $476,980 — essentially pre-revenue
• Net Loss (ttm): $160 million
• Diluted EPS: –$1.79
• Operating Margin: –5,922%
• Return on Equity: –303%
• Cash (mrq): $149,000
• Debt (mrq): $6.04 million
• Current Ratio: 0.01 (severe liquidity risk)

Balance Sheet Red Flags

Until this large loan, which we are reporting on, CRML has been extremely cash-constrained, with less than $150,000 in liquidity and a current ratio of nearly zero, raising concerns about its near-term solvency. Of course, the bank’s loan resolves this.  It still faces a $290 million total capex hurdle to production at Tanbreez.

Comps

Compared to other pre-revenue rare earth miners like RareX, Vital Metals, or Appia, CRML has:

• Higher institutional visibility (due to Nasdaq listing and U.S. policy backing),
• Lower relative cash position,
• Higher insider ownership (68% vs peers averaging ~30–40%),
• More geopolitical support (EXIM + EU alignment via Wolfsberg),
  

  but also more aggressive capital burn and sharper valuation swings.

  
  

Major Shareholders

Critical Metals Corp.'s (CRML) largest shareholders are European Lithium Limited (opens in a new tab) and Rimbal (opens in a new tab), who together hold approximately 81% of the company's issued capital. Additionally, several institutional investors hold significant stakes, including Linden Advisors LP (opens in a new tab), Polar Asset Management Partners Inc. (opens in a new tab), Saba Capital Management, L.P. (opens in a new tab), and BlackRock, Inc. (opens in a new tab), according to Fintel (opens in a new tab). A recent agreement with European Lithium and Rimbal prevents them from selling their shares on the open market for 180 days.

Conclusion

CRML is a highly speculative, geopolitically strategic early-stage play with two major critical mineral assets. Its EXIM support is significant, but the company remains deeply entrenched in pre-production, bleeding capital, and dependent on sustained political and financial tailwinds. Investors should weigh the long-term upside against near-term financial fragility and execution risk.

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