European Lithium raises $50m from sale of Critical Metals shares
ASX-listed European Lithium has realised a further $50-million (A$76-million) through the sale of 3.85-million shares in Nasdaq-listed Critical Metals (CRML) to a single US institutional investor.
The shares were sold at $13 each in an off-market transaction – a 12% discount to CRML’s Friday closing price of $14.98. The sale follows a significant run-up in CRML’s share price and increased trading activity on the Nasdaq.
Executive chairperson Tony Sage said the deal highlighted the strength of investor demand for CRML shares. “The recent price increase and the large trading volumes on the Nasdaq shows the demand for CRML shares is huge,” he said.
Sage added that the company’s remaining 56-million shares in CRML – based on the latest Nasdaq closing price – were valued at about $854-million (A$1.29-billion), “which is well above the current market capitalisation of EUR”.
“The company’s holding in CRML equates to A$0.89 per EUR share. EUR also holds a direct 7.5% interest in the Tanbreez project and given the current market valuation of CRML ($A2.3-billion), this equity interest is very strategic,” he said.
European Lithium remains focused on advancing its exploration and development portfolio across Austria, Ireland, Ukraine, and Australia, with particular emphasis on lithium and rare earth projects.
CRML, meanwhile, is positioning itself as a key supplier of critical minerals to Western markets. Its flagship Tanbreez project in Greenland is one of the world’s largest rare-earth deposits, while its Wolfsberg lithium project in Austria – the first fully permitted lithium mine in Europe – is poised to become a cornerstone supplier for the European battery and electric vehicle industries.
With a 20% interest in several prospective Austrian mineral projects previously held by European Lithium, CRML is developing what it describes as a “strategic asset portfolio” supporting the clean energy transition and next-generation technologies.
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