Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and wonder where all the assay results have gone.

Here are the highlights:

👀 Barrick Faces Hiccups

💩 CPPIB Makes An Oopsie

🦁 Gold In Fiji

👎🏼 Barrick Faces Hiccups

As Barrick Gold and Zijin Mining seek to reopen the Porgera gold mine in Papua New Guinea, the Porgera Landowners Association (PLOA) is working on an injunction to prevent its restart.

In 2020, the PNG government rejected Barrick and Zijin's application for a lease extension, following which a dispute arose between the companies and the government.

The disagreement was resolved in April 2021 with two agreements that gave the PNG government a majority stake in Porgera, now called New Porgera.

Members of the PLOA claim that they were not involved in negotiations and should have been consulted before decisions were made about the mine's resumption.

The Porgera mine has significant gold reserves of more than 10 million ounces and produced about 600,000 ounces of gold in 2019 before being put on care and maintenance.

🤦‍♂️ CPPIB Makes An Oopsie

Canada's largest pension fund, the Canada Pension Plan Investment Board, confirmed that it will now vote in favor of Teck Resources Ltd.'s plan to split the mining company, following a "technical error" last week that caused its website to state the opposite.

The vote will take place on April 26, and Glencore Plc. has framed it as a referendum on whether Teck's board should abandon the split and engage in talks.

The two companies have been engaging in negotiations for the past few weeks after Glencore's proposal to buy Teck for $23 billion and create two new companies was publicly rejected.

Teck's controlling shareholder, Norman Keevil, has indicated that he is open to a transaction with the "right partner, on the right terms" AFTER the company separates its metals business from its coal operations.

We sincerely hope they hurry up and decide since we’re sick of this story already.

🦁 Lion One Confirms High Grade

Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO), has announced significant new high-grade results from its grade control drilling activities at the Tuvatu Alkaline Gold Project.

The project is 100% owned by the Company and is located in Fiji. Dear management team, the Editor is willing and able for a site visit any time.

Highlights:

88.07g/t Au over 5.7m (including 1,396g/t Au over 0.3m)

27.52g/t Au over 5.55m

20.93g/t Au over 7.2m

Visible gold was observed in several holes, see original news release for more.

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.