European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has sold a further five million ordinary shares in Critical Metals Corp (NASDAQ: CRML) for net proceeds of about A$124 million, lifting its cash reserves to about A$322 million.
BMO Capital Markets Corp facilitated the transaction, acting in a market-maker capacity under the affiliate provisions of Rule 144, the company said.
Following the sale, European Lithium retains 48,036,338 CRML shares.Based on CRML’s closing price of US$17.17 a share on January 20, 2026, European Lithium’s remaining holding is valued at about US$824,783,923 (about A$1,228,928,046), noting the valuation will fluctuate with CRML’s share price.
“This transaction again proves our investment in the Tanbreez project has been a huge success and hopefully the EUR share price should finally reflect its true asset value. The sale will also provide EUR with additional financial flexibility while maintaining a significant exposure to CRML. The proceeds will further strengthen our balance sheet and positions the company to continue advancing its core projects, look for new opportunities or return capital to shareholders,” European Lithium executive chairman Tony Sage said.
‘Outstanding’ rare earth continuity at Tanbreez
European Lithium recently reported initial assay results from its 2025 diamond drilling program at the Tanbreez Rare Earths Project in southern Greenland, saying the data supports the scale, continuity and multi-commodity nature of the peralkaline-hosted system.
Read more: European Lithium reports ‘outstanding’ rare earth continuity at Tanbreez in first 2025 assays
Results from the Fjord and Upper Fjord areas returned consistent total rare earth oxide plus yttrium (TREO+Y) grades across broad intervals, with European Lithium highlighting a meaningful heavy rare earth component and associated strategic metals including gallium, hafnium, yttrium and cerium.
The results are expected to feed into a revised Mineral Resource Estimate and support mine planning and optimisation work at Tanbreez, which is operated by its US-listed partner Critical Metals Corp.