Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and go fishing.

Here are the highlights:

👏 Crisis Over In Ecuador

👨‍⚖️ Gold Trader Guilty For Spoofing!

🎯 Big Copper-Gold Find by Pacific Ridge

👏 Crisis Over In Ecuador

Luminex Resources (TSXV: LR) has finalized an unprecedented agreement with informal miners in the Condor North section of its Condor gold project in Ecuador. The accord, signed with Minera La Pangui SAS, which represents 19 local mining operators, addresses concerns about expiring artisanal mining permits.

As part of the deal, Luminex will divide its Chinapintza concession, transferring one title to the local entity, ensuring their legal mining rights. In return, the local entity will provide Luminex with mining easements and ensure environmental responsibility. Additionally, they will help restrict illegal mining and offer Luminex a right of first refusal on future title sales.

Post-agreement, Luminex shares rose 4.5%, valuing the company at C$40 million ($29.5m).

Finally!

👨‍⚖️ Gold Trader Guilty For Spoofing!

Gregg Smith, JPMorgan Chase & Co.'s former chief gold trader, has been sentenced to two years in prison for spoofing, fraud, and attempted market manipulation. This is the harshest sentence yet in a series of government crackdowns on illicit trading practices.

Smith was part of a larger case involving illegal spoofing, a technique used to manipulate gold and silver prices between 2008 and 2016. His sentence is part of a wave of successful prosecutions targeting Wall Street banks like Bank of America, Deutsche Bank, and Morgan Stanley.

In 2020, JPMorgan agreed to pay $920 million to settle allegations, marking the largest fine for market manipulation since the 2008 financial crisis. Smith plans to appeal his conviction.

Goldbugs have been saying this for HOW MANY YEARS?!

🎯 Big Copper-Gold Find by Pacific Ridge

Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) delivers impressive results from their exploration program at the Kliyul copper-gold porphyry project in north central British Columbia.

Highlights:

• 305.5 m of 0.62% CuEq (0.23% copper, 0.51 g/t gold, and 1.22 g/t silver) within 540.3 m of 0.46% CuEq.

• Expanded mineralized area in Kliyul Main Zone (KMZ) covering 600 m east-west, 450 m north-south, and up to 600 m vertical depth.

• Roughly 6,500 m out of a planned 9,000 m diamond drill program completed.

Congrats to Blaine and the team, we’re looking forward to the rest.

📰 In Other News:

🤣 Meme 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.