CRML Stock Rises Premarket: Retail Calls For ‘Much Higher' Prices After $2.2B Revenue Target From Romania Refinery

• Critical Metals plans a Romanian refinery processing up to 100,000 tons of Tanbreez concentrate annually.
• Silica recovery could potentially bring $600 million in annual revenue while reducing acid use. 
• Critical Metals estimates $2.2 billion in annual revenue, with a $4.5 billion NPV, 55% IRR, and two-year payback. 

Critical Metals Corp. (CRML) stock gained premarket Thursday as retail investors called for further gains after the company set a $2.2 billion annual revenue target for its planned Romania refinery.

Critical Metals stock traded over 2% higher in Thursday’s premarket. 

Romania Refinery Targets 100,000 Tons Of Annual Processing 

On Thursday, Critical Metals outlined new details of its planned ‘mine-to-metals’ strategy for the Tanbreez Rare Earth Project in Greenland, highlighting a proposed refinery in Romania that the company says could increase the value of its mineral concentrate.

The proposed facility would process as much as 100,000 tons of eudialyte concentrate annually. Under the existing term sheet, the Romanian joint venture is expected to receive half of Tanbreez's concentrate production. Current company estimates call for about 27,943 tons of rare earth and critical metal products each year, along with 25,670 tons of high-purity silica powder.

The refinery would use several acid-processing steps to reduce silica gel formation and recover silica at 99.99% purity. CRML estimates the silica could generate about $600 million in annual revenue while cutting fresh acid use by around 85%. 

Critical Metals Targets $2.2 Billion Annual Revenue From Refinery

Critical Metals currently puts estimated capital spending at $1.85 billion, with a preliminary range of plus or minus 25%. Its model projects roughly $2.2 billion in annual revenue before operating expenses, taxes and capital recovery. The analysis also indicates a net present value (NPV) of about $4.5 billion, an internal rate of return near 55% and a payback period of approximately two years.

The company's base-case model assumes approximately $13,000 in revenue per ton of concentrate processed, compared with a higher-price scenario of about $24,000 based on 2025-2026 market pricing.

In an X post, Critical Metals executive chairman and CEO Tony Sage called the results “A huge milestone for the project.”

What CRML Retail Traders Are Saying 

On Stocktwits, retail sentiment around the stock remained ‘bearish’ with a 190% surge in message volume over the past week. 

A user said, “After today’s news.. this should be much much higher.”

Another user said, “THIS IS WHERE IT GETS F****** INTERESTING!!!.

If the Tanbreez hydro thesis is validated — cheap power, massive energy savings and potentially $800M+ NPV uplift — the current valuation could look very  different.”

A third user said, “One of the most impressive parts of today’s news may be hiding in plain sight.  Silica. CRML is modeling ~25,670 tonnes/year of 99.99% high-purity silica, potentially worth around $600M in annual revenue by itself. Something that could otherwise be part of the waste stream potentially becomes a major high-value product.”

CRML stock has declined over 6% year-to-date. 

Also see: Why Is VICR Stock Jumping Over 10% Overnight?

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