The company is targeting first ore production by Q4 2028 and has secured $120 million in financing and $85 million PIPE, with 100% of projected output pre-contracted. In March 2026, CRML entered into an agreement to acquire a majority shareholding in 60° North Greenland ApS, a Greenlandic construction, exploration, logistics and project development company, which will add local operational capability. Leadership appointments in 2026 include Thomas "TYT" Mogensen as Chief Executive Officer to Tanbreez Mining A/S in April 2026.
Cyborg Score Rationale
Pre-revenue mining developer with world-class HREE assets, secured offtake agreements, and substantial financing. However, execution risk, pre-production status, and micro-cap volatility create material downside. Catalyst-driven story with clear near-term milestones.
Top Insights
2025 Fremantle Metallurgy test work improved historical 2016 results to 2.96% TREO refined concentrate (40% increase over prior 2.1% result) with >85% recovery using magnetic separation and confirmed recovery of eight key REEs including HREEs.
Pilot plant operations are scheduled to begin in May 2026, with a 150-tonne bulk sample planned for June 2026 and minimum 10 tonnes pre-production concentrate commitments to offtake partners.
In May 2026, CRML executed a definitive 15-year binding offtake agreement with REalloys Inc.
In April 2026, CRML agreed to issue 5,999,998 ordinary shares at $10.00 per share for gross proceeds of $59,999,980.
Named Competitors
USA Rare Earth — US-based rare earth element processor and supplier
Lynas Rare Earths — Australian rare earth element mining and processing company
Rare Element Resources — US rare earth element development company
Recent Developments
(June 2026) New CEO Thomas Mogensen appointed to lead Tanbreez Mining A/S operations
(May 2026) Executed definitive 15-year binding offtake agreement with REalloys Inc.
(April 2026) Completed acquisition of 50.5% stake in Tanbreez (92.5% ownership); raised $60M in securities offering
(March 2026) Agreed to acquire majority stake in 60° North Greenland ApS for local infrastructure capability
(March 2026) Confirmed improved metallurgical test results: 2.96% TREO concentrate (40% increase over 2016 baseline)
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