ASX-listed European Lithium has further monetised its stake in Nasdaq-listed Critical Metals Corp (CRML), selling a block of shares worth $50-million in an off-market deal to a single US institutional investor, while CRML itself has raised an equivalent amount to advance its Tanbreez rare earth project in Greenland.

The company said on Friday it sold 3.03-million CRML shares at $16.50 each, realising about A$76-million in proceeds. The transaction follows a similar sale earlier this week, when European Lithium offloaded 3.85-million CRML shares at $13 apiece.

European Lithium executive chairperson Tony Sage said the latest CRML capital raising “demonstrates continued investor confidence in the US markets in CRML as they continue to advance the strategic portfolio of critical mineral assets".

He added that the company had fielded “a lot of enquiries from EUR shareholders regarding the discrepancy between the EUR market capitalisation against its shareholding in CRML”.

“EUR currently holds 53 036 338 shares in CRML and using the $22.72 closing price on the Nasdaq on October 16, values the company’s holding at approximately $1.2-billion (A$1.85-billion) which equates to A$1.23 per EUR share which is well above the current market capitalisation of EUR despite recent increases in the EUR share price. We are aware of this discrepancy and continue to execute a range of strategic options aimed at better reflecting this intrinsic value. The company now has over $190-million in cash reserves,” Sage said.

The latest share sale come amid strong investor interest in CRML, whose shares have climbed sharply in recent months on rising optimism around its critical minerals portfolio. CRML recently completed a private placement of $50-million, issuing 1.47-million ordinary shares at $16.50 apiece and pre-funded warrants for about 1.56-million shares. The company plans to use the proceeds to advance development of the Tanbreez project, one of the world’s largest rare earth deposits, located in Greenland.

“The recent price increase and the large trading volumes on the Nasdaq show the demand for CRML shares is huge,” Sage said following the earlier sale.

European Lithium also holds a direct 7.5% interest in the Tanbreez project. “Given the current market valuation of CRML (A$2.3-billion), this equity interest is very strategic,” Sage said.

CRML’s portfolio includes the Tanbreez rare earth project and the Wolfsberg lithium project in Austria – Europe’s first fully permitted lithium mine. Wolfsberg is expected to be a cornerstone supplier for the European battery and electric vehicle industries, while Tanbreez is being positioned to strengthen Western supply chains for rare earth elements.