Critical Metals Corp. to Acquire Up to 92.5% of Tanbre Project
Ticker: CRTMF · Form: 6-K · Filed: Jul 25, 2024 · CIK: 1951089
Sentiment: neutral
Topics: acquisition, agreement, mining
TL;DR
Critical Metals Corp. is moving to acquire a big stake in the Tanbre project from Rimbal Pty Ltd.
AI Summary
On July 19, 2024, Critical Metals Corp. entered into an amended and restated Heads of Agreement with Rimbal Pty Ltd., a company controlled by geologist Gregory Barnes. This agreement allows Critical Metals Corp. to acquire up to a 92.5% interest in the Tanbre project.
Why It Matters
This potential acquisition could significantly expand Critical Metals Corp.'s project portfolio and resource base in the critical metals sector.
Risk Assessment
Risk Level: medium — The acquisition is subject to further agreements and due diligence, indicating potential hurdles and uncertainties.
Key Numbers
- 92.5% — Maximum Interest (Critical Metals Corp. aims to acquire up to this percentage of the Tanbre project.)
Key Players & Entities
- Critical Metals Corp. (company) — Registrant and potential acquirer
- Rimbal Pty Ltd. (company) — Counterparty in the agreement
- Gregory Barnes (person) — Controller of Rimbal Pty Ltd.
- Tanbre project (project) — Subject of the acquisition
- 92.5% (percentage) — Maximum interest Critical Metals Corp. can acquire
- July 19, 2024 (date) — Date of the amended Heads of Agreement
FAQ
What is the effective date of the amended and restated Heads of Agreement?
The amended and restated Heads of Agreement was entered into on July 19, 2024.
Who is the other party to the Heads of Agreement?
The other party is Rimbal Pty Ltd., a company controlled by geologist Gregory Barnes.
What is the name of the project Critical Metals Corp. is looking to acquire an interest in?
The project is named the Tanbre project.
What is the maximum ownership percentage Critical Metals Corp. can acquire in the Tanbre project?
Critical Metals Corp. can acquire up to a 92.5% interest in the Tanbre project.
What type of filing is this document?
This document is a Form 6-K, Report of Foreign Private Issuer.
Filing Stats: 1,599 words · 6 min read · ~5 pages · Grade level 15.7 · Accepted 2024-07-25 17:02:29
Key Financial Figures
- $5 million — ”) in exchange for the payment of $5 million in cash to Rimbal. The remaining acqu
- $0.001 — pany’s ordinary shares, par value $0.001 per share (“ordinary shares&rdquo
- $90 million — Interest”) with a value equal to $90 million at the time of the execution of the ori
- $10 million — he Company first spending an additional $10 million in cash over a period of two years to f
- $116 million — d ordinary shares with a value equal to $116 million at such time (the “Stage 2 Intere
- $5.0 million — nbreez in exchange for an investment of $5.0 million in Rimbal, increasing the Company&rsquo
- $116 million — shares to Rimbal with a value equal to $116 million at such time. The closing of the Stage
Filing Documents
- ea0209957-6k_critical.htm (6-K) — 31KB
- ea020995701ex1-1_critical.htm (EX-1.1) — 111KB
- 0001013762-24-001183.txt ( ) — 143KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Critical Metals Corp. By : /s/ Tony Sage Name : Tony Sage Title : Chief Executive Officer and Executive Chairman Date: July 25, 2024 4