Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and enjoy our beaches for a while before summer ends.

Here are the highlights:

🙃 BHP Calls For Australian Nuclear Revival

🤩 830 m of 0.50% CuEq

🔥 Hot Chili = Hot PEA

🙃 BHP Calls For Australian Nuclear Revival

BHP, the world's largest mining company, is urging Australia to lift its longstanding ban on nuclear power as part of its efforts to decarbonize the electricity system. 

Laura Tyler, BHP's chief technical officer, emphasized the need to consider nuclear energy alongside wind, solar, batteries, and other sources for a safe and reliable energy mix.

BHP, known for its iron ore and coal mines, also produces uranium for nuclear reactors.

The recent surge in nuclear energy's global popularity is driven by concerns over natural gas shortages and the development of smaller and more affordable reactors.

Australia has prohibited nuclear power since the 1990s, with the Labor government opposing its use due to the “abundance of renewable resources”. However, the opposition coalition supports overturning the ban, citing the need for reliable baseload power.

Home to one of the world’s largest uranium resources in the world, yet user of not one single pound. The irony.

🤩 830 m of 0.50% CuEq

Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) reported assay results from a series of holes aimed at growing the ‘Indicative Starter Pit’ within the Warintza Central zone at its Warintza Project in southeastern Ecuador.

Highlights:

• 830 m of 0.50% CuEq from 48 m depth

• 494 m of 0.42% CuEq from near surface

• 128 m of 0.60% CuEq

Mineral resource expansion drilling continues to target growth of the ‘Indicative Starter Pit’, an area of near surface, high-grade mineralization estimated at 180 Mt at 0.82% CuEq (Indicated) and 107 Mt at 0.73% CuEq (Inferred) in the Warintza Mineral Resource Estimate.

Not bad not bad not bad.

🔥 Hot Chili = Hot PEA

Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) has published highlights of the PEA for their Costa Fuego project, as the company claims it’s one of the world’s lowest capital intensity, major copper developments.

Highlights:

• NPV8% of US$1.10 Billion

• IRR of 21%

• Capex: US$1.05 Billion

What’s perhaps most notable is the leverage to copper prices, according to the company’s estimates, for every US$0.10/lb increase above US$ 3.85/lb Cu price, US$100 Million (approximately) is added in post-tax NPV8%.

Hopefully this era of super high capex will give way to a mining renaissance. Someday.

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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.