Most people will fade this one. I think it has room to 3 to 5x in 2026.

I've been following this one for a while and I am starting to like the set-up here. Thought i'd share it to get any second opinions or additional info. Most people will fade this one, but I think it could sneakily run up 3-5x this year. https://preview.redd.it/zvwli9gzyyag1.png?width=1561&format=png&auto=webp&s=796b563985ce53677e9910e7992c6c73c7638d15 NioBay Metals $NBY.V $NBYCF is a tiny Canadian critical-minerals name built around the James Bay niobium project in Ontario. Add a bit of niobium to steel and you get stronger, lighter metal for pipelines, autos, infrastructure, plus it is starting to creep into battery talk, which is why it sits on a bunch of “critical minerals” lists. Back in October the stock went on a big run after Ontario granted a new exploration permit for James Bay. Work had been on ice since 2022 after Moose Cree raised water concerns in a wetland area. The new permit basically reworks the drill plan so pads are moved away from South Bluff Creek, access is by helicopter instead of new roads, and water controls are tighter. Bottom line is they can actually get back on the ground this winter. On the numbers side, James Bay already has a 2020 PEA that shows around C$1.0B after-tax NPV (8% discount), 27% IRR and a 3.2-year payback at US$45/kg niobium, against roughly C$510M upfront capex. For a company sitting around the C$30M market cap range, that is a lot of theoretical upside, but the capex is obviously way too big for them alone. At some point they will need a partner, offtake money, government help, or all three. Since that permit spike, the chart has bled back. A big reason is the financing they did in December, raising about C$8.9M with $0.20 warrants on top. Great for the project because it gives them a real budget to drill James Bay and push it forward into 2026. The flip side is all that LIFE paper coming free trading, and saw the typical “sell the shares, keep the warrants” behavior kicking the stock over the past few weeks. That is the part that has my attention now. Most of that financing selling looks like it has been chewed through. Volume on the down days has dried up, the trend from the October pop has basically reset, and the stock is finally starting to push back out of that little wedge it has been stuck in since the raise. Same story as October (permit in place, big PEA, long path ahead), but now with cash in the bank. Now I am simply waiting for news in regards to a winter drill plan. Market cap is only C$25M. This is not financial advice by any means. I recently added some shares but i'm waiting for further confirmation of a breakout and retest.