Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together for the juicy stuff.

Here are two delicious drinks on the menu:

🥤  Russian Oil 5% More Rare

🥤 Alphamin With 286% Increase

🛢 Novak with Russian Production Down For March

Russia's Deputy Prime Minister Alexander Novak, not to be confused with tennis legend Novak, who's much cooler, announced today that the country will reduce its oil production by 5% or 500,000 barrels per day in March.

The move comes as a result of the West imposing limits on the prices of Russian oil and oil products. 

This news caused a significant increase in the price of Brent, which rose by over 2.5% to $86.6 per barrel. Russia is the second largest oil exporter in the world after Saudi Arabia.

In a statement, Novak stated that they are currently selling the entire volume of oil produced, but will not sell to those who support the "price cap" principles directly or indirectly.

The G7, the European Union, and Australia reached an agreement to prohibit the use of Western-sourced maritime insurance, financing, and brokerage services for seaborne Russian oil priced over $60 per barrel, starting from December 5th. 

On February 5th, the EU also banned the purchase of Russian oil products and implemented price caps. In response, Russia has prohibited transactions that involve any use of the price cap measures.

Two questions we have:

1- Is the cut a simple function of a country at war dealing with logistical issues?

2- If this is in response to price caps and sanctions imposed by the West, and they're selling the entire volume of oil produced, is it really voluntary? Sounds like volun-got-no-other-option-tary.

💪🏼 Alphamin Grows Resources Towards World Domination

Alphamin Resources Corp. (AFM:TSXV), the company responsible for producing 4% of the world's mined tin from its operation in the Democratic Republic of Congo, is announcing the completion of the infill drilling campaign at Mpama South and an updated Mineral Resource Estimate.

Highlights:

Indicated Resources have increased by 286%  based on assays from 63 additional infill and extensional drill holes.

The Mpama South Mineral Resources now stand at 3.26 million tonnes at 2.46% tin content, containing 80.2 kt of tin in the Indicated category, and 2.84 million tonnes at 2.42% tin content, containing 68.7kt of tin in the Inferred category.

The deposit at Mpama South remains open down-dip. (Confession: we always think of chips and dip when we hear this. Just as tasty.)

Construction works at the Mpama South Mine are progressing as planned, with project completion expected to increase Alphamin's annual contained tin production from 12,000 tonnes per annum to approximately 20,000 tonnes per annum, which is  6.6% of the world's mined tin. 

Meme of The Day

Don't over drink, the hangover is not worth it and you're no longer in your 20s. 

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.