Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and shuffle the deck.

Here are the highlights:

🤘🏼Tin Producer Hits Record

🫡 Collective With 271m of 3.35 g/t Au Eq

💄 Corporate Wars: Round 2

🙇🏼 Magna Finds More Goodies In Sudbury

🪡 Tin Producer Hits Record

Alphamin Resources Corp (AFM:TSXV) (APH:JSE AltX), a producer of 4% of the world's mined tin in the Democratic Republic of Congo, has reported some numbers for Q1 2023. 

Highlights:

Record quarterly tin production of 3,187 tonnes for Q1 2023, along with Q1 2023 EBITDA guidance of $41.4m, up 53% from the previous quarter.

The company’s tin expansion project is expected to increase annual tin production by up to 60% progressing to plan.

Alphamin’s consolidated net cash position at quarter-end is $86m after a final FY2022 dividend payment of $28.2m was paid to shareholders.

Development progress of the Mpama South project is on track, with the project forecasted to be complete within its $116m budget with commissioning targeted in December 2023.

💪🏼 Collective With 271m of 3.35 g/t Au Eq

Collective Mining Drills makes yet another juicy hit at the high-grade shallow zone of the Apollo Porphyry System, expanding the dimensions to the west.

Highlight:

271.30m at 3.35 g/t gold equivalent (2.37 g/t gold, 23 g/t silver and 0.42% copper) from surface

169.25m at 2.81 g/t gold equivalent (1.93 g/t gold, 19 g/t silver and 0.38% copper) form surface

Collective has completed 11 holes so far this year and five additional holes are in the lab awaiting assay results.

For context:

🎩 Corporate Wars: Round 2

Glencore won’t give up the attempt at a take over of Teck so soon.

The mining giant has revised its bid for Teck Resources by offering a cash element worth up to $8.2bn to buy out shareholders in the coal-focused spin-off and granting them a 24% stake in a separate industrial metals business.

The move comes a day after Teck's CEO described the deal as a "non-starter." Glencore's revised offer allows investors to choose cash instead of shares or a combination of both.

Teck said it will evaluate the new proposal, which doesn't provide an increase in the overall value to be received by shareholders or address material risks previously raised.

In a bid to stave off the take over by Glencore, Canadian entrepreneur of Franco-Nevada fame Pierre Lassonde, is reportedly planning to purchase a large stake in Teck Resources’ spinoff coal company, Elk Valley Resources.

Teck plans to split off Elk Valley Resources from its copper and zinc business, and its shares are expected to be listed on the Toronto Stock Exchange in June 2023.

According to an invited guest, Gary Nagle, the CEO of Glencore PLC, is scheduled to meet with certain Canadian shareholders of Teck Resources Ltd. in Toronto on April 13 to personally persuade them to back Glencore's proposed acquisition of the copper and zinc miner.

The heat is on.

👑 Magna Finds More Goodies In Sudbury

Magna Mining Inc. (TSXV: NICU) has announced the initial results from its 2023 diamond drilling program at the Crean Hill Mine in Sudbury, Ontario. Three holes were reported. 

As of now, approximately 14 drill holes have been completed, and the remaining 11 holes are awaiting assays.

Highlights:

• 95.4m of 0.2% Ni, 0.6 % Cu, 11.0 g/t Pt + Pd + Au,

Including 21.8m of 0.76% Ni, 1.54% Cu and 32.83 g/t Pt + Pd + Au,

Including 5.1 m of 2.4% Ni, 4.3 % Cu, 37.2 g/t Pt + Pd +Au,

and including 2.8 m 0.6% Ni, 2.3 % Cu, 122.5 g/t Pt + Pd +Au

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.