China hikes rare earth prices by 45% = more drilling = MDI.TO

I keep it simple: If REE prices jump +45% in one quarter, Western governments and miners will invest even more aggressively in exploration = someone has to drill those holes = That’s Major Drilling. MDI is the world’s largest specialized drilling contractor. They don’t own the mines, they drill the holes. Pure pick & shovel. No commodity price risk, no mine development risk. They just get paid per meter drilled, whoever wins the resource race. The setup is perfect right now. TSX mining companies raised $16B in 2025 up 53% YoY. Gold at all-time highs. Copper near records. Western governments mandating domestic critical mineral sourcing. Every single one of these trends means more drill programs. More drill programs means more revenue for MDI. The numbers back it up. $870M annualized revenue, growing 15-20% YoY. Net cash of $40M. Zero dependency on debt. Share buybacks running. Last cycle peak was 20+ CAD on far less revenue than today. Current price: 18.xCAD. Q3 looked weak, that’s the opportunity. MDI deliberately sacrificed Q3 margins to hire crews, service rigs and stock supplies ahead of what management calls “a much busier 2026.” January already ramped faster than last year. The pain is priced in. The gain isn’t. TLDR: Western critical mineral rush is just starting. MDI drills the holes. 27 CAD price target NFA. Bonne chance