Apex Critical Metals Raises C$15M as NdPr Ratio Outshines Mountain Pass
03.06.2026 - 17:15:50 | boerse-global.de
Apex Critical Metals has closed an upsized brokered private placement, pulling in C$15 million to bankroll a three-project exploration campaign. The financing, completed on June 2, was fully subscribed after the company expanded the offering to 7,895,000 units at C$1.90 each. Each unit comprises one common share and one warrant exercisable at C$2.60 for 24 months, with no exchange listing planned for the warrants.
The placement’s standout takeaway, however, is the grade quality emerging from the flagship Rift rare earths project in Nebraska. Drill hole RIFT26-003’s “Neo Zone” — the neodymium-praseodymium (NdPr) component — registered more than double the ratio seen at Mountain Pass, North America’s only active rare earths mine, which reports a 16.4% NdPr share of total rare earth oxides. Phase I drilling extended the mineralized zone by roughly 275 metres, with one intercept grading 23.7 metres at 4.02% total rare earth oxide and multiple broad intervals above 2%.
Canaccord Genuity led the financing as sole bookrunner alongside Red Cloud Securities as co-agent. The agents received a 6% cash fee on gross proceeds, reduced to 3% for president’s list buyers, plus 394,740 broker warrants exercisable at C$1.90 and subject to a four-month hold period.
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Proceeds will be split among Rift, the CAP critical minerals project in British Columbia, and Lac Le Moyne in Québec’s Nunavik region. CAP shows a niobium-in-soil anomaly confirmed by drilling and airborne geophysics, pointing to carbonatite-related mineralisation. Lac Le Moyne has returned new carbonatite finds from surface sampling. At Rift, 14 holes totalling roughly 8,849 metres have been drilled, with assays for 12 holes covering 7,038 metres still pending.
The second half of 2026 is set to be the defining period: Apex plans to release the Phase I assay results, deliver an updated geological 3D model, launch Phase II drilling and publish an initial NI 43-101 mineral resource estimate. Near-term work includes downhole televiewer surveys and further geochemical testing.
Institutional visibility got a boost when Apex was added to the Sprott Rare Earths Ex-China ETF (REXC), accounting for a 0.08% portfolio weight among 34 holdings. Yet the equity has yet to catch up with the exploration momentum. The stock trades around C$1.02, down roughly 21% year-to-date and well below its 200-day moving average of C$1.50. Whether Phase II results can close that valuation gap will become clearer by autumn.
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