Mentioned:
Critical Metals is coming after a new opportunity: ultra high purity copper powder. But, why?
What’s happening:
- Critical Metals (NASDAQ: CRML) has acquired 40 kilograms of ultra high purity copper powder in a new $20M USD deal
By the numbers:
- Critical Metals issued 2M common shares at $10.00 USD per share as part of the purchase, which represents roughly a 40% premium to the previous closing price
- Ultra high purity copper powder is typically sold between $1,500-$2,500 USD per gram
Why it matters:
- This is the first time ever that Critical Metals has ever made an acquisition of ultra high purity copper and gives them access to one of the single largest stockpiles of ultra high purity copper powder amongst any publicly traded company in North America
Going deeper:
- Ultra high purity copper is an essential input for semiconductor technologies and also has multiple applications throughout defense, energy and even aerospace
The intrigue:
- China is currently the world’s largest producer of ultra high purity copper powder
