Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and check how green this price table is, have a great Friday!

Here are the highlights:

🥊 First Quantum Fights Back

🤔 Gold Performing Well — Which Is Suspicious

🧐 Visual Of The Day

🥊 First Quantum Fights Back

First Quantum Minerals (TSX: FM) has initiated international arbitration against Panama following the country's top court ruling its 20-year copper mine contract unconstitutional. This follows protests and significant economic disruptions in Panama.

The Canadian miner, citing the 2023 concession agreement and the Canada-Panama Free Trade Agreement, is concerned about the closure's environmental and economic impacts. The situation has led to Panama's Trade Minister's resignation and uncertainty about the mine's future, which is crucial to both global copper supply and Panama's GDP.

Is this a replay of what happened to the company in 2012 in the Congo? The stock has fallen from a level of high $20s in late October to a disgraceful $11.09 today.

🤔 Gold Performing Well — Which Is Suspicious

Gold prices rose on Friday, heading for a third consecutive weekly gain, driven by expectations of a potential cut in US interest rates. Spot gold reached $2,056.03 per ounce, the highest since early May, while US gold futures were at $2,073.10 per ounce. The market anticipates rate cuts as inflation shows signs of easing, which benefits gold. 

Federal Reserve Chair Jerome Powell's upcoming speech is eagerly awaited for further insights into interest rate expectations. Market predictions suggest a 50% chance of a Fed rate cut by March. Analysts, however, warn that gold prices might have prematurely factored in these monetary policy expectations.

But then again — who the heck knows? What we do know is that gold stocks are DIRT CHEAP, and we’re going to continue to pound this table.

📰 In Other News:

🧐 Visual 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.