CRML-03 — Greenland Heavy Rare Earth Just Spiked Again. When Will It Happen Next? Equity Locked In, What Contract Are They Waiting For?
2026-04-19- **CRML jumped over 40% intraday and closed +35%**, on news that the Greenland government approved the transfer of the Tanbreez heavy rare earth mine — CRML now owns 92.5% (controlling stake). Stock went from around $9 to $12.50, but it's still only halfway up from peak.
- **Operational milestones moving forward:** Fremantle metallurgy lab confirmed a 40% grade improvement to 2.96% TREO; $30M board-approved acceleration program for drilling and engineering; target to scale the resource from 45 Mt to 130 Mt; pilot plant starting May 2026; first ore exports targeted late 2028 / early 2029.
- **The bigger catalyst is the Saudi triangle deal** — a non-binding 50/50 JV term sheet for up to $1.5B to build a refinery in Saudi Arabia, with a 25% offtake commitment back to the Saudi partner. Greenland = raw ore, Saudi = processing, US = defense end-user. If this gets converted to a binding contract in the coming months, expect another major spike.