Toronto, January 19, 2026, 13:02 EST — Regular session
- Apex Critical Metals shares dropped 9.7%, slipping to C$3.26 by midday.
- The explorer announced plans for an 8,000-metre Phase I drilling campaign at its Rift Rare Earth Project in Nebraska.
- Investors are eyeing fresh spending focused on developing rare-earth magnet supply chains beyond China.
Shares of Apex Critical Metals (CSE:APXC; OTCQX:APXCF) dropped 9.7% to C$3.26 on Monday, reversing some of their recent rally as the company outlined plans for its Rift Rare Earth Project in Nebraska. StockAnalysis
Timing is crucial. Rare earths, a set of 17 elements, are embedded in permanent magnets found in electric motors and defence equipment, prompting Western manufacturers to rush securing their supply chains.
Money is flowing downstream as well. U.S. magnet maker Noveon Magnetics announced it has closed a $215 million Series C round led by One Investment Management, aiming to boost domestic production. CEO Scott Dunn said the funding will help “scale” output to keep up with “rapidly growing customer demand.” PR Newswire
Apex, still in the early stages, is gearing up for Phase I drilling that “contemplates 8,000 m of coring across 10 to 15 drill holes,” targeting depths between 600 and 900 metres. CEO Sean Charland described the company as “in an outstanding position” ahead of the drilling start. Assay results are anticipated in the first half of 2026. MINING.COM
The program aims to confirm and build on historical intersections from previous campaigns. Step-out holes are scheduled to the north and south, targeting a larger geophysical anomaly, the company said.
Monday’s selloff underscored just how volatile this trade can be. The stock has surged over the past year, but thin volume often magnifies swings—especially as investors attempt to value an exploration story ahead of any solid drill results.
The obvious downside is there too. If assays come back weak, drilling drags on, or funding dries up, small-cap explorers can see their valuations drop fast—and often with little notice.
Apex isn’t the only player pushing a North American rare-earth story, but it’s ahead of the bigger names in production and development. That carries risks: it’s less proven, yet also reacts more sharply to each new piece of data.
Traders are eyeing a clear next step: when the rigs start moving and what the initial assays reveal. Apex expects to deliver results in the first half of 2026.
