Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and try to figure out if we're geniuses or idiots.

Here are evidence for both:

🍿 Commodities Bull - Wrong or Early?

🍿 ATAC Receives Bid

🍿 Osiko Gets JV

🙈 Commodities Bull - We're Very Wrong Or Very Early

We’re either all really wrong or really early, but probably not both. Take a look at this tweet, which shows some Goldman Sachs data, specially outflows in 2022. Absolutely massive. (scrambles for that contrarian versus victim quote).

😎 ATAC Gets A Bid

ATAC Resources Ltd. (TSXV: ATC) (OTCQB: ATADF) has signed a non-binding Letter of Intent with Hecla Mining Company regarding a proposed transaction.

Hecla will acquire all of ATAC's shares for C$0.14 per share, payable in Hecla common stock. ATAC shareholders will receive shares in a new exploration company, Spinco, which will hold ATAC's rights and interests in several projects and ATAC's cash balance.

Hecla will also make a C$2.0 million strategic investment in Spinco, acquiring a right of first refusal and 19.9% of Spinco's issued and outstanding common shares.

The LOI is effective until the execution of a definitive and binding agreement or March 15th, 2023, whichever comes first.

The completion of the Proposed Transaction is subject to due diligence, voting support, shareholder approval, TSX Venture Exchange approval, lots of signatures and a partridge in a pear tree.

🍻 Osisko Securing Zinc JV

Osisko Metals (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51), the company which controls one of Canada's premier past-producing zinc mining camps, the Pine Point Project, has partnered with Appian to form a joint venture to advance it.

Appian has agreed to invest up to C$100 million over four years to acquire an undivided 60% interest in Pine Point Mining Ltd, a subsidiary of Osisko.

The investment includes an initial C$8.3 million payment to acquire a 9% interest in PPML, C$19.8 million upon establishment of the joint venture, and a milestone payment of approximately C$16.4 million upon positive FID.

Appian has also agreed to invest C$5 million in the common shares of Osisko Metals on closing.

Pine Point is located in the Northwest Territories, for which the 2022 PEA has indicated an after-tax NPV of $602M and an IRR of 25%.

Zinc is sexy again.

Are you having fun yet?

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.