Shares of Critical Metals Corp (NASDAQ:CRML) are soaring Monday afternoon. The rally follows news that Blackboxstocks' merger target, REalloys Inc., has entered into a letter of intent for a 10-year off-take agreement with the company.

What To Know: The proposed agreement would see REalloys purchase 15% of the projected rare earth concentrate from Critical Metals' flagship Tanbreez Project in Southern Greenland, one of the world’s largest heavy rare earth deposits. This amounts to approximately 6.75 million metric tons of concentrate over the 10-year term.

The positive sentiment is amplified by a broader sector rally, fueled by JPMorgan's $1.5 trillion initiative to invest in critical minerals and U.S. government support for domestic resource independence. The move potentially positions Critical Metals as a key future supplier for U.S. industrial and defense needs.

CRML Price Action: Critical Metals shares were up 43.37% at $21.48 at the time of publication Monday, according to Benzinga Pro.

The strong upward momentum indicates a bullish trend, with the price breaking through previous resistance levels, particularly previous 52-week high of $19.25. Support may now be found at the recent low of $16.95, while the next resistance level appears to be near the intraday high of $22.08.

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