Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and do a bit of fishing, as the day has been busy.

Here are the highlights:

😉 Newcrest To Unlock Hidden Treasure

🤑 Steppe Gold's Bold Move

💀 PEA Hell

😉 Newcrest To Unlock Hidden Treasure

Newcrest Mining Ltd., Australia's largest gold producer, may have substantial gold and copper deposits at its Red Chris project in Canada, potentially extending mining operations in the area for decades, according to CEO Sherry Duhe. 

The company is considering adding underground block cave mining to its open pit operations at Red Chris and is seeing promising exploration results at the neighboring East Ridge area.

Block caving, a cost-effective underground mining method, could provide significant production until around 2030, with the possibility of further expansion based on the East Ridge findings.

Newcrest's acquisition by Newmont Corp. will increase its exposure to copper, with Red Chris and the planned Wafi-Golpu mine in Papua New Guinea driving copper's share of Newcrest's revenue above 50%.

🤑 Steppe Gold's Bold Move

Anacortes Mining Corp. has been formally acquired by Steppe Gold Ltd. 

Shareholders of Anacortes received a 36% premium on the value of their shares.

Formerly Anacortes’, and now Steppe Gold’s Tres Cruces project has an underlying NPV of approximately US$170 million at US$1,700 gold (per its PEA filed in March 2022).

Anacortes has now become a wholly-owned subsidiary of Steppe Gold, and the Anacortes Shares are expected to be de-listed from the TSX Venture Exchange.

💀 PEA Hell

We were going to public a couple of PEA results, but decided against it because, pure and simple: they are not good.

High capex, low IRR (don’t ask why, but lower than 20% in this industry is a tough sell unless you have massive scale).

High operating costs, high commodity-price assumptions, discount rates of 5% (while t-bills are darn near that).

We refuse.

A new dawn of mining – in legislation, financing, and market structure, MUST happen.

We will surf that wave and make a fortune with you when it happens.

🤣 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.