Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and set up our campsites, to enjoy nature.

Here are the highlights:

🙄 Lithium Co On The Verge Of Bankruptcy

👏 792.25 Metres OF 1.71 g/t Gold

🦺 Global Atomic’s Dasa Presses On

🙄 Lithium Co On The Verge Of Bankruptcy

Cornish Lithium, a UK start-up aiming to open a lithium mine, has warned that it could face insolvency without a capital injection of around $13 million (£10 million). 

The company stated in its annual report that it needs to secure funding by July 2023 in order to continue operating. Even if short-term funding is obtained, Cornish Lithium may still need to implement cost-cutting measures without medium to long-term investment.

The company's chairman, Ian Cockerill, criticized the UK government for not providing sufficient support to develop a local battery supply chain.

Cornish Lithium had hoped to start production by 2026 to take advantage of the European Union's push for electric vehicles and battery metals.

Currently, the UK relies on lithium supply from Australia and Chile, as it has no domestic operations.

One of the most important factors of a great team is the ability to raise money – never forget that, young grasshopper.

👏 792.25 Metres OF 1.71 g/t Gold

Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) announce assay results from two drill holes designed to test depth extensions and high-grade mineralization within the Apollo porphyry system at the Guayabales project located in Caldas, Colombia.

Highlights:

• 792.25 metres @ 1.71 g/t gold equivalent commencing from surface (consisting of 0.88 g/t gold, 39 g/t silver and 0.18% copper)

• 847.25 metres @ 1.09 g/t gold equivalent from surface (consisting of 0.64 g/t gold, 16 g/t silver and 0.14% copper)

Is Ari Sussman the next Friedland?

🦺 Global Atomic’s Dasa Presses On

Global Atomic Corporation (TSX: GLO) (FRANKFURT: G12) (OTCQX: GLATF) provided an update on its Dasa Uranium Project in Niger, stating that progress is being made in the development of the project. 

The company is in the final stages of completing financing terms for the project, which will then be presented to the banks' boards for approval.

The mining and support team at the Dasa Project has grown to over 200 people, with work on the ramp and earthworks at the plant site underway.

The company remains on schedule to produce Yellowcake for delivery to nuclear utilities in early 2025.

Detailed engineering for the processing plant is nearing completion, and orders have been placed for critical long-lead items.

The updated Mine Plan and a new Mineable Reserve calculation based on actual mining costs are expected to have a positive effect on the Phase 1 Mine Plan.

🎬 Video Of The Day

Join CEO Alexandre P. Boivin from Quimbaya Gold, a sponsor of The Next Big Rush, as he discusses the exciting projects and potential in Colombia's mining industry.

Learn about their new acquisitions, the flagship Tahami project, high-grade gold in Segovia, and the experienced team driving their exploration efforts.

Our eyes are glued to this story, we’re biased, long and strong.

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.