The debut of Critical Metals Corp (Nasdaq: CRML) on the Nasdaq, resulting from the merger between European Lithium (ASX: EUR) and Sizzle Acquisition Corp, experienced significant volatility. While Sizzle stock surged by 120% in after-hours trading on Tuesday, Critical Metals' debut on Wednesday saw a 38% decline. However, by midday on Friday, CRML had rebounded, showing a gain of over 10%.
Despite the initial turbulence, Critical Metals retains a significant stake in the Wolfsberg lithium project in Carinthia, Austria, valued at $1.2 billion. This project is poised to become the EU's sole battery-grade lithium mine by 2027, according to Tony Sage, the executive chairman of Critical Metals.
Sage remains optimistic despite the fluctuating share prices and current lows in lithium prices. The company has secured supply agreements with BMW and has partnered with Obeikan Investment Group to construct a lithium hydroxide plant in Saudi Arabia, a venture expected to be finalized by the e
