Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and run a marathon.

Here are the highlights:

😈 Abra Closes With High Note

🙃 Escondida Is Going Underground

👏 Uranium is Moving

😈 Abra Closes With High Note

AbraSilver Resource Corp. (TSX.V: ABRA) (OTC: ABBRF) announced assay results for the final set of drill holes completed as part of the Company’s Phase III drill program, on its wholly-owned Diablillos property in Salta Province, Argentina.

Highlights:

• 64 m of 148 g/t Ag from a downhole depth of 41 m

• 15.0 m at 93 g/t Ag and 0.78 g/t Au

• 7 m of 119 g/t Ag and 0.14 g/t Au, from downhole depth of 85 m

The reported holes were designed to delineate the margins of the JAC zone, ahead of the upcoming Mineral Resource estimate and a Pre-Feasibility Study on the Diablillos project.

Abra is finding a real deposit and the market is sleeping on it – price is down as we type this.

🙃 Escondida Is Going Underground

BHP (ASX, LON, NYSE: BHP) has initiated studies over 18 months at its Chile operations to counteract an anticipated decrease in concentrator feed grade from 2027. They'll implement the Full SaL leach technology, already successful at Spence, expecting to produce about 410,000 tonnes of copper cathodes at Escondida over a decade.

The capital expenditure for Full SaL is projected at nearly $300 million, with production starting in FY25. BHP is considering a new concentrator for Escondida and may extend Cerro Colorado mine's lifespan, which is ending this year. Costs for these studies will rise to $140 million annually for FY24 and FY25.

Additionally, BHP is exploring five leaching technologies and has over 30 projects at Escondida, including potential underground mining and decarbonization strategies.

We’re not going to highlight the anticipated decrease in concentrator feed – or are we?

It means nothing, surely.

👏 Uranium is Moving

The price of our beloved radioactive cake is going up, as predicted just over 343 times here in the last six months. Spot price is currently one hair away (that’s the technical term) from the $60 mark.

The Sprott Physical Uranium Trust is up and the discount to NAV is approaching 0, something we haven’t seen in (check’s calendar)… Way too long. $60 was touted as the great divide that would create enough incentive to producers to turn on the spigots, but we’ve been saying this for so long that we firmly believe, with inflation and all other factors, that this number is now closer to $75.

We’re not the only ones, as you will see in this interview with John Borshoff (who took a company into production in the last cycle and made Paladin Energy, once a 1c stock, reach above the $10 mark).

The interview is set to be published today or tomorrow:

📰 In Other News:

🤣 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.