Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and rejoice even when the uranium is slightly red, it's Friday, comrades! 🍻

Here are the highlights:

🤐 Newmont Declares Force Majeure

🫣 Not Enough Lithium?

🤔 Sharks Surrounding Lithium Junior

🤐 Newmont Declares Force Majeure

Newmont, the world's largest gold producer, has declared force majeure on metal product deliveries from its Peñasquito mine in Mexico due to an ongoing strike. 

Nearly 2,000 unionized workers have been on strike since June 8, demanding a larger share of the mine's profits.

The dispute revolves around a profit-sharing agreement, with workers seeking to increase their share from 10% to 20%.

Newmont remains engaged in what they call “constructive dialogue” with the union and authorities.

This strike marks the third labor dispute at Peñasquito since Newmont acquired the mine in 2019.

The mine is Mexico's largest gold operation and the world's fifth-largest silver mine, contributing significantly to Newmont's sales and Mexico's economy.

Say it with me: what can go wrong in mining, will go wrong in mining.

🫣 Not Enough Lithium?

Lithium producers are concerned that permitting delays, staffing shortages, and inflation could hinder the supply of lithium to meet the growing demand for electric vehicles (EVs). 

The rapid shift towards electrification has intensified the demand for lithium, a key component in EV batteries.

Producers warn of potential shortages and a crisis situation in the battery industry if adequate lithium feedstock is not secured.

Lake Resources announced a three-year delay in its Kachi lithium project in Argentina, citing logistical concerns.

Albemarle, the largest lithium producer globally, expects a shortfall of 500,000 metric tons in lithium supply by 2030.

The current pace of mine openings is insufficient to meet the demand, and there is a shortage of facilities for producing specialized types of lithium required for batteries.

The plot thickens.

🤔 Sharks Surrounding Lithium Junior

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) is currently facing a hostile takeover bid from TechEnergy Lithium Canada Inc., a subsidiary of Tecpetrol Investments. 

However, the Board of Directors of Alpha Lithium unanimously recommends that shareholders reject the offer, stating that it is inadequate and not in the best interests of the company or its shareholders.

The Board highlights several reasons to reject the offer, including its undervaluation of Alpha's shares and assets (the takeover bid is under its current market price), the company's ongoing strategic review process, and the highly conditional nature of the hostile bid.

The world is scrambling for lithium, and Tecpetrol thinks they can come in and underbid their way to success. Bold or foolish?

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.