Greenland-linked US stocks jump on military presence deal
CRML•CRML•CRML•CRML•Key details of the deal, which will be signed on Tuesday, have not been made public, including whether it amends the 1951 defence agreement that is the legal basis for the US presence in Greenland.
As of last close, CRML was down 3% year to date and GRML was down 80.2%.
US-listed shares linked to Greenland jumped premarket after the United States, Denmark and Greenland said on Friday they had reached an agreement for the US to expand its military footprint in the self-governed Danish territory.
Rare earth miner Critical Metals (CRML.O) rose 30% to $8.75; the company owns a majority stake in the Tanbreez project in Greenland.
Critical minerals developer Greenland Mines (GRML.O) rose 68.4% to $4.80, while oil explorer Greenland Energy (GLND.O), focused on East Greenland's Jameson Land Basin Energy, more than doubled to $2.78.
