Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together on Saturday and feel hopeful.

Here are the positive points:

🧵 Nickel Rocks At LME

🧵 Gold And Silver Flying

🧵 Recommendations

🫠 Nickel Rocks at LME

The London Metal Exchange has found that bags of stones were discovered instead of nickel, which underpinned a handful of its contracts, at a warehouse in Rotterdam. The revelation is another blow to confidence in the embattled exchange, as the LME's contracts are viewed as a safe haven in the industry.

The LME discovered the problem after it received reports that some nickel delivered out of the warehouse in Rotterdam contained bags of stones instead of nickel briquettes. The nine warrants representing 54 tons of metal have been invalidated, and the LME has asked licensed operators to recheck warranted nickel.

This comes at a fraught time for the wider metals world, after trading giant Trafigura Group revealed in February that it had been the victim of a vast alleged fraud involving missing nickel cargoes. The news that even a few of LME's contracts have been compromised will raise fresh questions about its systems and procedures, while the exchange is still dealing with the fallout of its last nickel crisis.

Bags. Of. Stones. We wonder what's in the copper vaults, and the zinc vaults, and...

🔥 Gold Is Up!

Spot price closed for the weekend at $1988.11 shooting 3.46% up from the previous session.

I guess it only took a full-on banking crisis, with a background of high inflation, a slightly weaker dollar, and a European war for the shiny metal to finally get closer to $2000.

Flashbacks to 2011.

The juniors, represented by the GDXJ, were up a healthy 5.52%

Silver also finished up +3.94%, wrapping up the week at $22.60. The Global X Silver Miners ETF was up +4.45%, with an extra bump after hours of +1.15%.

Is this the beginning of something special?

🥸 Today's Recommendation

1- @MiningBot69 

A bot that monitors mining cos for insider buying and selling. It’s a brand new account, worth a follow:

2- Mining Stock Daily Podcast

Mining Stock Daily is a brief overview of finance and resource exploration news from the world's mining and metals sector. Mining Stock Daily is a quick overview of the day's most important sector information for both precious and base metals, including market trends and analysis.

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.