In a Truth Social post, U.S. President Donald Trump said experts believe Greenland could hold some of the world’s largest easily accessible oil reserves.

  • Trump said Greenland’s strategic location would allow American defense systems to intercept incoming drones, missiles, and other potential threats.
  • Last month, the U.S., Denmark, and Greenland reached an agreement to expand America’s military presence on the island.
  • GLND shares are tracking their first gains of the month.

Shares of Greenland-based firms, Critical Metals (CRML), Greenland Energy (GLND), and Greenland Mines (GRML) surged in premarket trading on Wednesday after U.S. President Donald Trump announced plans for large-scale oil, gas, and mineral exploration in the country.

GLND shares were up 57% at the time of writing and are on track to reverse a nine-session losing streak. The stock shed nearly 57% of its value in the selloff. GRML shares soared 25% in pre-market trading, while CRML stock, which was up about 7%, is tracking its only third session in the green this month.

Trump Turns Spotlight Back On Greenland

In a Truth Social post, Trump said massive exploration for oil, gas, and minerals was preparing to begin in Greenland. He claimed experts believe Greenland could hold some of the world’s largest easily accessible oil reserves, making the island an important energy source.

Beyond natural resources, Trump also emphasized Greenland’s strategic importance to U.S. and European security. He said the island’s location would let American defense systems intercept incoming drones, missiles, and other potential threats.

“It gives us time, location, and sightline, like nowhere else in the World!” Trump said.

However, the President did not divulge details of the projects.

The announcement comes almost a month after the U.S., Denmark, and Greenland reached an agreement to expand America’s military footprint on the island with two additional bases. The move aims to strengthen Washington’s position in the strategically important Arctic region amid growing Russian and Chinese activity.

How Have The Stocks Done Since The September Agreement?

The three stocks rallied sharply after the September agreement, then gave back much of their gains. GRML stock, which surged 230% after the announcement, is now up 94% as of Tuesday’s close.

GLND shares skyrocketed 140% but closed in the red in most sessions following the deal. It is up 84% as of Tuesday’s close. CRML shares are down nearly 3% since the deal was announced.

What The Companies Are Working On

Greenland Mines is developing the Sarfartoq rare-earth project, which contains minerals used in electric vehicles, defense equipment, and advanced technologies. The company recently raised over $42 million to fund exploration and development through 2027.

Critical Metals is advancing its Tanbreez project in southern Greenland, which contains 19 critical elements used across several key industries. Earlier this month, the company secured government approval for its mining plans through 2050.

Greenland Energy is exploring oil and gas opportunities in East Greenland’s Jameson Land Basin through a partnership with 80 Mile. In September, the company extended its deadline to drill two exploration wells until December 2028. It also completed environmental studies to support future drilling applications.

CRML Bulls Eye $20

Despite the pre-market rally, retail sentiment on Stocktwits around CRML, GRML, and GLND remained ‘bearish’ over the past 24 hours. However, chatter was largely optimistic.

One user tracking GLND said, “rest will be history” once Trump announces details on permits and drilling dates.

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Another user expects CRML shares to surge to $20, a 185% upside from current levels.

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CRML shares are down 19% so far in 2026; GRML shares have plummeted 65%, while GLND stock has crashed 78%.

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