Shares of Critical Metals Corp (NASDAQ:CRML) are soaring Monday afternoon. The rally follows news that Blackboxstocks' merger target, REalloys Inc., has entered into a letter of intent for a 10-year off-take agreement with the company.
What To Know: The proposed agreement would see REalloys purchase 15% of the projected rare earth concentrate from Critical Metals' flagship Tanbreez Project in Southern Greenland, one of the world’s largest heavy rare earth deposits. This amounts to approximately 6.75 million metric tons of concentrate over the 10-year term.
