Just days after European Lithium Ltd announced its stake in Critical Metals Corp. was valued at US$381.9 million following an upsized equity raise of US$24.5 million, the latter has now outlined its strategic growth initiatives for the remainder of 2025.
In the coming months, Critical Metals will advance the development of its Tanbreez Rare Earth Project in southern Greenland and the Wolfsberg Lithium Project in Austria including a maiden SK-1300-compliant resource estimate at Tanbreez and definitive feasibility studies at Wolfsburg.
With these strategic assets, the company aims to position itself as a reliable and sustainable supplier of critical metals and elements for Western markets.
Poised to execute vision
"Following our oversubscribed capital raise, Critical Metals Corp is poised to execute on its vision of becoming a leading western supplier of strategic minerals essential for clean energy and defence applications," EUR executive chairman and CEO & chairman of Critical Metals Tony Sage said.
"With the funds raised, Critical Metals Corp is progressing our pre-production activities at both Tanbreez and Wolfsberg projects.
"Looking ahead, we anticipate both US and European government grant support in coming months based on applications made and applications in progress.
"To help advance these efforts and assist with general government affairs and funding support applications, we have recently retained world-class government affairs consultants.
"We are also actively looking to enhance our board with experienced directors who can help navigate the increasing government focus in the US on critical mineral security.
"We look forward to achieving several significant milestones in the coming months, including our maiden SK-1300 resource estimate for Tanbreez and the commencement of Zone 2 drilling at Wolfsberg."
The Tanbreez Project
Critical Metals Corp is advancing pre-production activities at the Tanbreez Project, with plans to release additional results from its 2024 field program by late March 2025. This program focused on twin-hole drilling to validate the existing resource and grade.
By the end of the second quarter, the company aims to publish its maiden SK-1300-compliant resource estimate, marking a key milestone in the project's development. Additionally, an updated preliminary feasibility study is scheduled for release in the fourth quarter of 2025.
Critical Metals Corp is actively engaging with potential strategic partners in Europe and the US to secure funding and accelerate the project’s development.
The Wolfsberg Lithium Project
At the Wolfsberg Lithium Project, Critical Metals is progressing definitive feasibility studies for the mine site in Austria and the lithium hydroxide plant in Saudi Arabia, developed in partnership with Arabian New Energy.
A Zone 2 drilling program is set to begin in the third quarter to evaluate further resource potential beyond Zone 1, which is under an exclusive offtake agreement with BMW.
This program will support negotiations for additional offtake agreements and pre-payment arrangements. The company aims to secure project financing and begin mine construction in 2025.
Targeting government funding and strengthening board
Critical Metals has engaged leading government affairs consultants to support its interactions with US and European authorities.
These consultants will assist in securing government funding and managing regulatory engagement.
The company anticipates receiving grant support in the coming months, based on applications already submitted and others in progress.
To strengthen its leadership, the company also plans to appoint two new board members in the first quarter of 2025.
The focus will be on candidates with US federal government experience to complement the company’s mining and capital markets expertise.