Apex Critical Metals Sees Quarterly Loss Widen Amid Aggressive Exploration Push

Apex Critical Metals CA03753D1042

The Canadian mineral exploration company Apex Critical Metals reported a significantly larger net loss for its first fiscal quarter, underscoring the substantial costs of its ambitious multi-continent drilling campaigns. The firm posted a net loss of CAD 2.68 million for the period ending October 31, 2025, a sharp increase from the CAD 0.41 million loss recorded in the same quarter the previous year.

On a per-share basis, the loss expanded from CAD 0.01 to CAD 0.05. Company leadership attributed the wider deficit directly to heightened field activity across its portfolio, rather than administrative overhead. This capital-intensive strategy has accelerated spending as Apex pursues simultaneous work programs.

The quarter’s operational focus included several key initiatives:
* Conducting re-logging and re-sampling of historical drill cores at the Rift rare earths project in Nebraska.
* Executing summer exploration campaigns in Québec and British Columbia.
* Collecting 151 rock samples at the Lac Le Moyne project.
* Completing airborne geophysical surveys at the Cap project.

Notably, the reprocessing of historical Molycorp drill cores from the 1970s and 1980s has been finished. Analytical results from this work are anticipated in the first quarter of 2026.

Discovery in Québec and British Columbia Progress

In mid-December, Apex announced a notable discovery at its Lac Le Moyne project in Nunavik, Québec. Initial findings from the first campaign exceeded expectations:
* Four rock samples contained over 0.20% niobium pentoxide (Nb₂O₅), with peak values reaching 0.40%.
* Thirteen samples assayed over 0.25% total rare earth oxides, with a maximum of 0.50%.
* The company subsequently staked 77 new claims, covering approximately 3,609 hectares.

This discovery is situated near the Eldor carbonatite complex, which hosts the high-grade Ashram rare earth deposit. With only about 600 carbonatite systems identified globally, the geology of the find is considered strategically significant.

Meanwhile, at the Cap project in British Columbia, the 2025 drilling program confirmed a niobium trend extending over 1.8 kilometers. Assays returned 0.59% Nb₂O₅ over 36 meters, including a higher-grade interval of 1.08% over 10 meters.

Liquidity and Market Positioning

The increased quarterly losses bring the company’s financial runway into focus. To fund its operations, Apex closed a CAD 10 million private placement in October 2025. The offering was twice the size initially planned, driven by strong investor demand.

The market continues to monitor upcoming catalysts, with first drill results from the Rift project expected by late 2025 or early 2026. Apex’s North American project base aligns with broader Western initiatives to reduce reliance on Chinese supply chains for critical minerals.

Following an approximate 117% gain over the past year, the company’s shares have entered a consolidation phase. Technical chart support is seen around CAD 2.00, with resistance near CAD 2.25. The stock’s position above its 200-day moving average suggests the market is still granting credibility to the exploration-driven strategy, despite the elevated expenditure.