According to a Bloomberg News report, there were no active discussions underway regarding a deal with Critical Metals, which is involved in Greenland’s largest rare earths project.
A White House official reportedly stated on Monday that the Trump administration was not evaluating a deal to acquire a stake in Critical Metals Corp (CRML) following a Reuters report that the government was considering such a move, which sparked a surge in the rare earths company’s stock.
Shares of Critical Metals still traded over 46% higher in afternoon trading on Monday. According to a Bloomberg News report, a White House official stated that the administration was in regular contact with the private sector and had received hundreds of deal proposals involving equity stakes.
The report added that no active discussions were underway regarding a deal with Critical Metals, which is involved in Greenland’s largest rare earths project. The Reuters report noted that the U.S. was aiming to secure access to Greenland’s Tanbreez project, which Critical Metals acquired last year for $5 million in cash and $211 million in stock.
Retail sentiment on Critical Metals remained unchanged in the ‘extremely bullish’ territory compared to a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.
Bloomberg reported that U.S. President Donald Trump has unveiled several agreements in recent months, in which companies have traded equity stakes in return for access to government loans and subsidies. The report added that last month, the U.S. took a 5% stake in Lithium Americas and announced the Vancouver-based company could draw on a previously agreed-upon $2.23 billion loan. In August, Intel Corp announced that the U.S. government would take a 9.9% stake in the firm for $8.9 billion.
Critical Metal shares have gained nearly 75% this year.
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