u/East_Elderberry5385

The author argues that a 45% quarterly jump in rare earth prices will push Western governments and miners to spend more aggressively on exploration, and that Major Drilling, the world's largest specialized drilling contractor, gets paid per meter drilled regardless of who wins the resource race. Supporting catalysts cited include TSX mining companies raising $16B in 2025 (up 53% YoY), record gold and near-record copper prices, and Western mandates for domestic critical mineral sourcing. The author notes Q3 margins were deliberately sacrificed to hire crews and stock supplies ahead of a 'much busier 2026,' with January already ramping faster than last year, and sets a 27 CAD price target. Main stated risk is the weak Q3 margin performance, which the author frames as already priced in.