Critical Metals (CRML) said Tuesday it has begun a 2000-meter diamond drilling program at the Tanbreez Rare Earth Project in Greenland.

Chairman and Chief Executive Tony Sage said the company has already installed a new drilling rig.

Critical Metals said it is also working with a Greenland drilling contractor to conduct fieldwork and collect data required by Greenland regulators and its financial partners, which include the Export-Important Bank of the United States.

The company said it remains on track to deliver the final reports by Q4.

Shares of the company were up more than 4% in recent premarket activity.