Greenland Mines shares extend rally as peers slip

** Shares in Greenland Mines Ltd GRML.O rose as much as 68% to $15.87 on Tuesday, adding to Monday's 230.5% surge, after the metals company said it aims to more than double its footprint in Greenland after the US, Denmark and Greenland said on Friday they agreed for the US to boost its military presence in Greenland.

** Shares in GRML were last up around 51% at $14.30 after earlier touching their highest level since June 18.

** The miner announced Monday morning that it had applied to Greenland for a license to increase its control in the Sarfartoq rare earth and carbonatite district to 454 km² from 192 km².

** After rallying Monday, other US-traded companies with Greenland exposure dipped on Tuesday. Critical Metals Corp CRML.O was down about 6% at $8.77 after rising almost 39% on Monday. Greenland Energy GLND.O fell more than 2% to $2.81 after climbing 140% in the prior session.

** Trading in these shares has often been volatile since US President Donald Trump took office as he has repeatedly said the US must control Greenland, a self-governing Danish territory, for national security purposes. Friday's agreement allows for the US to develop a significant military presence in the Arctic island, while prohibiting US adversaries from building their own bases there.

** Year to date, GRML is still down about 2%, while CRML shares are up about 26% and GLND, which started trading on Nasdaq in March, is down about 88% from its March 26 peak.