01:28 PM EDT, 08/26/2025 (MT Newswires) -- Ucore Rare Metals ( UURAF ) up 17% on last look and at a 52-week high, on Tuesday said it executed a Letter of Intent (LOI) with Nasdaq-listed Critical Metals (CRML) for a long-term offtake agreement to secure heavy rare earth element feedstock from the Tanbreez Project in southern Greenland.

Critical Metals intends to supply Ucore with a rare earth product from Tanbreez over an initial 10-year term. The material will be used as feedstock for Ucore's complex in Alexandria, Louisiana. Smaller volumes will initially be processed at Ucore's demonstration facility in Kingston, Ontario.

"Critical Metals Corp's ( CRML ) Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for the production of rare earth permanent magnets," said Pat Ryan, chief executive officer.

Ucore was last seen up $0.55 to $3.85 on the TSX Venture Exchange.

Price: 3.80, Change: +0.51, Percent Change: +15.50