** Shares of development-stage mining company Critical Metals CRML.O fall 34.7% to $5.7; company announces $22.5 million in private placement of shares
** CRML said it would sell ~4.5 million ordinary shares and warrants at $5 to buy shares at an amount equivalent to $7 in a PIPE (private investment in public equity)
** "Funds raised through the PIPE will support our efforts in developing both Tanbreez, a game-changing rare earth asset in Greenland, and our Wolfsberg Lithium Project, the first fully permitted lithium mine in Europe" - CEO Tony Sage
** Tanbreez aims to mine 500,000 metric tons annually of the crimson rare earths-containing mineral eudialyte as soon as 2026
** Critical Metals has ~90.71 million shares outstanding and ~24.3 mln shares of public float, according to data compiled by LSEG
** CRML down 8.1% YTD
(Reporting by Seher Dareen in Bengaluru)
((Seher.Dareen@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.