⛏ Copper Crisis Deepens

PLUS: Highlander Explodes

Greetings Contrarian,

Source: Trading Economics, Numerco.

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and go fishing.

Here are the highlights:

🙄 Copper Crisis Deepens

🤯 Highlander Explodes

🤣 Meme Of The Day

🙄 Copper Crisis Deepens

It’s official. Panama has ordered Canadian company First Quantum Minerals (TSX: FM) to cease operations at its Cobre Panama copper mine following a Supreme Court decision declaring the mine's contract unconstitutional.

This ruling comes after six weeks of intense protests and President Laurentino Cortizo's announcement of a planned mine closure. The contract, providing First Quantum with 20 years of mining rights and an extension option, has faced substantial opposition, including from clueless self-righteous public figures like Greta Thunberg and Leonardo DiCaprio. 

The mine's closure will significantly impact Panama's economy, as it contributes 5% to the GDP and 75% of exports. The decision also poses risks to global copper markets, with the mine representing 1.5% of global copper production. First Quantum is considering international arbitration to address the financial losses and has expressed interest in dialogue with the Panamanian government.

The company faces financial challenges if the mine remains closed for extended periods in 2024.

🤯 Highlander Explodes

Highlander Silver Corp. (CSE:HSLV) announce that it has entered into a share purchase agreement with SSR Mining Inc. to acquire the San Luis gold-silver project in Ancash Department of central Peru.

Highlights:

  • Historical Measured & Indicated mineral resources of 348,000 ounces (oz) of gold (Au) grading 22.4 g/t Au, and 9,003,300 oz silver (Ag) grading 578.1 g/t Ag

Financing for this transformative acquisition is backstopped by the Augusta Group and members of the Lundin family. 

When you have high-grade and the Lundins, many are willing to overlook the jurisdiction. The stock is up 50% on the news.

📰 In Other News:

🤣 Meme Of The Day

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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.

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