Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and learn the gossip to make more money.

Here are the high points:

🥸 Global Copper Supply Improves

🥸 Goldman Tries to Poo Poo Lithium Deals

🥸 Newfound Gold Finds New Gold Zone

😮‍💨 Global Copper Supply Improves - In The Short Term

The global copper supply picture is receiving a series of positive developments, with the latest being a breakthrough in contract negotiations at a mine in Panama. According to Ebrahim Asvat, a lawyer advising the government in the negotiations, Panamanian officials are "very close" to finalizing a new contract with First Quantum Minerals Ltd. for the Cobre Panama mine, and a deal could be reached within two weeks.

This development would end a lengthy dispute that resulted in the suspension of exports and ore processing at the mine, which accounts for approximately 1.5% of the world's copper production.

Additionally, it would prevent negative consequences for First Quantum's bottom line and Panama's reputation as a jurisdiction friendly to investors.

This news follows the resumption of operations at the Grasberg mine in Indonesia, which was disrupted by a landslide, and the return to normal production at Freeport-McMoRan Inc.'s mine in Peru, which had slowed operations due to anti-government protests. Moreover, Chile, the top copper-producing country, reported a year-on-year increase in monthly output after several operational setbacks and disappointments. It’s almost like the falling dominoes have been picked up and put into place.

The long-term outlook for copper, however, hasn’t changed, as evidenced by our favourite fake Rick Rule account:

🙄 Goldman Tries To Poo-Poo Lithium Deals

Goldman Sachs, the one company we all love to hate, has cautioned car manufacturers against acquiring mining companies to secure raw materials needed for EV batteries. According to their head of commodities, Jeff Currie, history is rife with examples of consumers moving upstream in commodities markets, and it never ends well. In an interview with Bloomberg Radio, Currie stated that "It always ends in tears," adding that mining projects in places like Southern Africa require a different expertise than producing cars.

Currie's comments were in response to a question about Tesla Inc. considering a takeover of Sigma Lithium Corp.

Automakers have been increasingly entering the mining industry to secure supplies for batteries that are replacing internal combustion engines. Stellantis NV recently acquired a 14% stake in a McEwen Mining Inc. copper subsidiary, and General Motors Co. is reportedly competing for a stake in Vale SA's base metals unit. In January, GM entered into a $650 million agreement with Lithium Americas Corp. to develop the top US lithium deposit.

Currie advised car manufacturers to stick to their core competencies and reduce their exposure to commodity price fluctuations through hedging.

Well, we’d like to advise Currie to keep his opinion the heck out of our investments. We mining folk have suffered for long enough and need a much-needed break. Let the automakers and governments come in - we don’t know when it ends but surely appreciate the opportunity to lose less money.

🤟🏼 Newfound Finds New Gold Zone

New Found Gold (TSX-V: NFG) (NYSE-A: NFGC) just discovered w new gold zone at Iceberg, a high-grade area located 300m northeast of Keats Main along the Appleton Fault Zone in Newfoundland.

Most of the gold (visible at certain spots) is in very short intervals, however, it starts at a stupid shallow depth of 7m. We suggest you follow up with the original post for media and the breakdown of the higher-grade intervals.

Highlights:

10.75m of 15.27 g/t Au

9.65m of 72.15 g/t Au

5.65m of 19.65 g/t Au

Happy Hump Day!

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.