Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and learn something new.

Here are the intriguing points:

 🫵🏼 Oil Co. With Massive Financial Results

 🫵🏼  Royalty Co. Forms Junior Exploreco

 🫵🏼 Ottawa Opens Wallet - To Some

 🛢️Oil Co. With Massive Financials

Surge Energy (TSX: SGY) just came out with stellar results for 2022, delivering a total shareholder return (TSR) of 112 percent, which includes share capital appreciation and dividends. The company's operating and financial performance highlights for the year are:

• Record cash flow from operating activities of $276.1 million in 2022, representing a 175% increase compared to the $100.5 million in 2021.

• Average daily production of 21,262 barrels of oil equivalent per day (boepd), which is an increase of 21% compared to 2021.

• Increased its cash flow from operating activities per share by 78%, from $1.83 in 2021 to $3.26 in 2022.

• The company reinstated its annual base cash dividend at $0.42 per share per year and increased it by 14 percent to $0.48 per share per year, effective February 15, 2023.

Dividends! What are those? 

🙀 EMX Forms Junior Explorer

EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) has signed a letter of intent to sell its portfolio of 14 precious and base metal projects in Idaho, its Idaho Business Unit, and wholly-owned core drilling subsidiary, Scout Drilling, to Scout Discoveries Corp.

The proposed transaction provides EMX with an equity interest, a retained 3.25% net smelter return royalty interest, annual advance royalty payments, and milestone payments as the portfolio is advanced.

Scout Discoveries will purchase a 100% interest in the portfolio by raising a minimum of $3 million in exploration capital coincident with the closing of the transfer of the portfolio. The LOI aims at a definitive agreement by March 31st, with the transaction closing by May 1st, 2023.

Is this a trend we see in companies branching out or changing strategy?Earlier this month, Millrock Resources Inc. (TSX-V: MRO) (OTCQB: MLRKF) announced plans to change its name to Alaska Energy Metals Corporation and become an energy metal explorer focused on its Nikolai project in Alaska, targeting a potentially large resource of nickel, copper, cobalt, chromium, iron, and platinum group elements after 16 years of being a project generator. 

  💳 Ottawa Opens Up Wallet 

Canada's federal government will invest $14 million in six Canadian mining projects focused on producing minerals needed to power electric vehicles, such as nickel, lithium, and rare earth elements, in an effort to shift the battery supply chain away from China.

The investment is part of a larger plan to provide about $200 million in funding towards the research and development of critical minerals projects.

Companies that have already received this $:

FPX Nickel Corp.,

Search Minerals Inc.,

E3 Lithium Ltd.,

Sherritt International Corp.,

Geomega Resources Inc.,

Prairie Lithium Corp.

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.