Greetings Speculator Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and cheer for another Monday of Madness.

Here are the highlights:

🫡 Glencore Tries Takeover Bid For Teck

🫡 Locals Dig Up Road Looking For Gold

🫡 $100 Oil Soon? 

 🚩 Glencore Tries Takeover Bid For Teck

Teck Resources Limited has announced that it has rejected an unsolicited acquisition proposal from Glencore. Here’s what they claimed, in poetic format to match their utter rejection:

Oh Glencore, dear Glencore,

Your proposal we did explore,

But after much consideration,

We've reached a clear determination.

We won't sell Teck, not today,

Our Separation plan is here to stay,

Creating two premier companies,

That will benefit our loyal families.

Your all-share acquisition plan,

Comes with execution risk, oh man,

24 months of regulatory approval,

Is just too much of a removal.

Your thermal coal business we don't need,

It's not part of our decarbonization creed,

And the oil trading business too,

Doesn't fit with what we want to do.

We don't believe in your synergies,

They're ill-defined and full of uncertainties,

And your exposure to geopolitical risks,

Would leave us in a terrible fix.

So sorry, Glencore, we must decline,

Our Separation plan is simply divine,

We'll recommend it to our shareholders,

And unlock value for all our well-wishers.

(Curtains close)

  🕳️ Locals Dig Up Road For Gold 

Residents of the municipality of Zaragoza, Colombia took over a street in the urban area of the town that was under repair, to search for gold. 

A rumor that someone had found gold on the street sparked a fever for the metal. The improvement plan for the aqueduct and sewer system in the municipality of Zaragoza stirred rumours even further to the possibility that locals could be walking on gold. 

The bare street without asphalt, plus the rumor of the gold found on the site of the work, were enough reasons for the road to be invaded and dug up by the "baresqueros" in search of the metal. 

The "baresqueros" (artisenal miners) searched for the metal for two nights until the police arrived and regained control of the street. 

The aqueduct and sewer works have already been resumed, but Zaragoceños are still suspicious there may be something precious underneath their feet. 

😲 $100 Oil Soon?

Oil prices surged at the opening bell following OPEC+’s announcement of reducing output by 1.16 million barrels per day, starting from May until the end of 2023. Saudi Arabia revealed that this was a (reaches into hat and pulls up a piece of crumpled paper): precautionary measure aimed at stabilizing the oil market. 

Brent crude futures jumped 5.1% to $83.95 a barrel, and U.S. West Texas Intermediate crude futures surged 5.2% to $79.64 a barrel.

Oil has been sneakingly moving up for the last week for those of us watching, so this simply speeds up the latest short-tem trend. 

 Russia's decision to trim oil production by 500,000 barrels per day until the end of 2023 added to the move. 

On top of that, the UAE will reduce output by 144,000 barrels per day, and other member states, including Kuwait, Oman, Iraq, Algeria, and Kazakhstan, have also pledged cuts. 

The largest OPEC+ members' selected involvement suggests that production cuts' adherence may be stronger than in the past. 

The voluntary cuts are allegedly aimed at preventing a repeat of the 2008 crash. If these cuts stick, the market will be tightened significantly, and oil prices could make a dash for $100.

🤣 Meme of The Day

Happy Speculating!

The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.