Each one in plain English, with the numbers worked through for a shareholder.
4 July 2024joint venture update▲ GoodMajor
Obeikan signed the shareholder agreement for the 50:50 Saudi lithium hydroxide plant joint venture, to be called Arabian New Energy. It becomes binding once CRML signs, and the company still has to be incorporated. This progresses the open Obeikan thread from the June 2023 term sheet.
1 July 2024other▲ Good
CRML was added to the Russell 2000, Russell 3000 and Russell Microcap indexes from 1 July 2024. EUR's CRML stake was valued at US$764M at 28 June. No change to EUR's holdings or operations.
19 June 2024asset acquisition disposition▲ Good
CRML paid US$5.0M cash to Rimbal and now holds 5.55% of Tanbreez, the first step in its planned 92.5% purchase announced 11 June. EUR keeps its 7.5%. EUR's CRML stake was valued at US$781.6M at 17 June.
14 June 2024other● Neutral
Distribution schedule for a class of 92,630,771 units held by 124 holders, as of 14 June 2024. The text does not say what the class is. Administrative, with no stated news.
12 June 2024capital raising announcement● Neutral
The options offer closed with applications for 114,380,771 new options (about 69% take-up) at A$0.005. Directors will take the remaining 52,341,194 options under their underwriting. This completes the offer announced in April.
11 June 2024asset acquisition disposition▲ GoodMajor
CRML signed a binding agreement to buy 92.5% of the Tanbreez rare earths deposit in Greenland for US$211M in CRML shares at US$10.71 plus US$5M cash. EUR keeps its 7.5% direct interest. A mining licence was granted in 2020.
6 June 2024material agreement▲ GoodMajor
BMW paid US$15M to CRML's Austrian subsidiary under the Wolfsberg offtake, to be offset against lithium hydroxide delivered. This satisfies the previously conditional prepayment from the December 2022 offtake. EUR's CRML stake was US$723M at 5 June.
23 May 2024capital raising announcement● Neutral
Closing date of the options offer extended again, to 7 June 2024. Administrative.
23 May 2024regulatory community update● Neutral
The US SEC declared CRML's Form F-1 effective on 22 May 2024. It covers share issues on warrant exercise and resale of certain shares from the merger. EUR's 83.03% stake was valued at US$755M at US$11.14.
9 May 2024capital raising announcement● Neutral
Closing date of the options offer extended to 24 May 2024. Administrative.
8 May 2024investor presentation● Neutral
EUR shared a CRML presentation for a Sydney conference. Its 83.03% CRML stake was valued at US$677.9M at US$10.00 per share on 6 May. Repeats known facts about Wolfsberg, BMW and Obeikan.
26 Apr 2024capital raising announcement● Neutral
Options offer prospectus sent to eligible holders. Offer closes 10 May 2024 unless extended and would raise A$833,610 before costs, with directors underwriting any shortfall. Administrative step.
23 Apr 2024capital raising announcement● Neutral
Prospectus for the options offer: up to 166,721,965 new options at A$0.005 to raise about A$833,610, exercisable at A$0.08 by 14 November 2025. The offer is fully underwritten by the directors. Small raising and a formal document for the previously announced offer.
22 Apr 2024asset acquisition disposition▲ GoodMajor
EUR signed a binding agreement to buy 100% of LRH Resources, holder of the Leinster Lithium Project in Ireland (23 licences, about 761 km²), from Technology Metals plc. It will pay US$10M in 1,234,568 CRML shares at US$8.10, subject to due diligence.
11 Apr 2024capital raising announcement● Neutral
EUR plans an offer to EUROA option holders of one new option per option held, at A$0.005 each, exercisable at A$0.08 until 14 November 2025. Directors would take 21.75M and underwrite the rest, subject to shareholder approval at a June 2024 meeting.
25 Mar 2024security holder rights change● Neutral
Notice that EUROA listed options (exercise price A$0.075) expire 19 April 2024, with quotation ending 15 April. The latest EUR price quoted was A$0.077. Administrative reminder to option holders.
14 Mar 2024half year report● Neutral
Half-year report to 31 December 2023. It reviews Wolfsberg DFS (NPV US$1.504B), the Saudi plant studies and the Critical Metals deal completed after period end. Mostly restates known events; the financial figures were not visible in the supplied text.
12 Mar 2024debt financing● Neutral
EUR lent A$2M to Cyclone Metals (in which it holds a stake) at 10% interest, secured over Iron Bear and repayable 20 June 2024. Cyclone used it to repay convertible notes in cash that were secured over its EUR shares and originally repayable in EUR securities.
1 Mar 2024other● Neutral
ASX says EUR's suspension will lift once the company releases its announcement. Procedural, with no substance of its own.
1 Mar 2024business combination▲ GoodMajor
The Sizzle merger completed and Critical Metals (CRML) began Nasdaq trading on 28 February 2024. EUR received 67,788,383 CRML shares (83.03%), valued at US$839M (A$1.3B) at the US$12.38 close. Sizzle raised US$10M from PIPE investors. Resolves the long-running merger thread.
29 Feb 2024other● Neutral
Voluntary suspension extended again, to 1 March 2024 at latest, pending the same strategic investment and NASDAQ merger completion updates. Procedural; no new information.
28 Feb 2024other● Neutral
Voluntary suspension extended once more, to 29 February 2024 at latest, pending the strategic investments update and an update on completing the NASDAQ merger. Procedural; no new information.
26 Feb 2024other● Neutral
Voluntary suspension extended again from 26 February, to 28 February 2024 at latest. It now also covers an update on completion of the NASDAQ merger, besides the strategic investments update. Procedural; no new information.
19 Feb 2024other● Neutral
Voluntary suspension extended again, to 26 February 2024 at latest, pending the update on strategic investments. Procedural; no new information.
14 Feb 2024other● Neutral
Voluntary suspension extended to 19 February 2024 while the update on potential strategic investments is still pending. Procedural; no new information.
6 Feb 2024other● Neutral
At EUR's request, trading is suspended pending an update on potential investments from strategic parties, which delayed the Sizzle vote. Suspension runs to 14 February at latest. Procedural.
31 Jan 2024joint venture update▼ Bad
Sizzle meeting postponed again, from 31 January to 6 February 2024, while EUR and Sizzle evaluate potential investments from strategic parties tied to closing. Second delay in about a week.
23 Jan 2024joint venture update▼ Bad
Sizzle shareholder meeting on the merger delayed from 23 to 31 January 2024 to accommodate potential strategic investors. EUR is evaluating investments from strategic partners to close alongside the listing. Another delay to closing.
15 Jan 2024joint venture update▲ GoodMajor
Planned capacity of the Saudi hydroxide plant with Obeikan doubled from 10,000 to 20,000 tonnes a year, with capital cost to be fully funded by the JV. Company and shareholder agreement are due in Q1 2024; Zone 2 drilling is expected in Q2 2024. Floor and ceiling prices are now described as subject to final agreement.
10 Jan 2024joint venture update● Neutral
Sizzle vote on the merger is set for 23 January 2024. Sizzle also seeks to extend its deadline from 8 February to 8 August 2024 as a backstop in case of delays. EUR would receive US$750M of CRML shares on closing.
