New York, Jan 23, 2026, 13:17 EST — Regular session
- Critical Metals shares dipped roughly 0.5% on Friday, pulling back after soaring 20.9% the previous day.
- A recent SEC filing revealed a non-binding MoU with Saudi Arabia alongside four non-binding offtake term sheets from Tanbreez.
- Investors are focused on binding contracts and more precise timelines for processing and project execution.
Shares of Critical Metals Corp slipped roughly 0.5% to $18.37 on Friday, pulling back after a strong jump the previous session. Early trades saw the stock fluctuate between $16.90 and $19.32, with volume remaining robust.
The pullback follows a disclosure that thrusts Saudi Arabia and Greenland back into the spotlight, leaving many questions unanswered. For a small rare-earth developer whose stock can jump sharply on news, this is a critical moment.
Critical Metals announced it has signed a memorandum of understanding — a non-binding deal — with Saudi Arabia’s Tariq Abdel Hadi Abdullah Al‑Qahtani & Brothers Co. The aim: explore joint ventures to build and operate a rare-earth processing and refining plant in the kingdom. Additionally, the company revealed it inked four non-binding term sheets for “offtake” agreements, covering future rare-earth concentrate from its Tanbreez project in Greenland. Still, Critical Metals cautioned there’s no certainty any of these deals will turn binding or favorable. 1
The stock jumped 20.89% on Thursday, finishing at $18.46 after hitting a high of $20.00 and a low of $15.25. About 48 million shares traded hands, according to Yahoo Finance. 2
Geopolitical tensions around Greenland, where Tanbreez operates, have fueled recent interest. CEO Tony Sage told Fortune, “We don’t want to be used as a political football,” highlighting the company’s efforts to maintain relationships with Washington, Europe, and local stakeholders without getting dragged into political conflicts. 3
Global stocks climbed and the dollar eased on Thursday, reacting to a fresh Greenland-related development: U.S. President Donald Trump stepped back from threats concerning Greenland and the European tariffs scheduled for Feb. 1, Reuters reported. 4
Rare-earth stocks saw selective gains amid recent headlines. USA Rare Earth shares climbed Thursday, drawing fresh investor interest despite varying company-specific catalysts. 5
Investors in Critical Metals remain focused on one pressing issue: will management convert non-binding agreements into signed contracts with clear terms and a viable processing plan? The filing stops short of detailing concrete economics, timelines, or financing for a Saudi facility.
There’s also the risk side. Non-binding MoUs and term sheets can fall apart, while projects in Greenland might face permitting hurdles, political resistance, or delays from logistics and cost issues — all before a single ton ships. Rare-earth markets can flip quickly if China changes pricing or export rules, pulling the rug out from under marginal projects.
Next up for traders: execution and paperwork. The company has said the pilot-plant facilities at Tanbreez should be ready by May 2026 at the latest—a key milestone investors are watching to gauge progress. Any definitive joint-venture deal or binding offtake contract will likely surface first in an SEC filing. 6
