⛏ Results So Good It Should Be Illegal

PLUS: First Quantum Comes Up For Breath

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 help each other.

Here are the highlights:

🤩 Results So Good It Should Be Illegal

🤞 First Quantum Comes Up For Breath

🐦 What’s Happening In Quebec?

🤩 Results So Good It Should Be Illegal

NGEx Minerals Ltd. (TSXV: NGEX) is pleased to report remaining drill results from three holes from the Lunahuasi Project, in the Vicuña District in San Juan Province, Argentina.

Highlights:

  • 23.0m at 23.02% CuEq

  • 460.9m at 1.09% CuEq

  • 4.2m at 19.70% CuEq

Drilling is continuing with four rigs currently active. Pull up their chart on the link below if you want to cry over missing this one since 2021. Here’s a handkerchief for your sorrows. 🤧

🤞 First Quantum Comes Up For Breath

First Quantum Minerals (TSX: FM) secured a $500-million financing deal with its largest shareholder, Jiangxi Copper, involving a three-year prepay arrangement for 50,000 tonnes of copper anode annually from its Kansanshi mine in Zambia.

This agreement is part of First Quantum's strategy to improve its financial stability amid supply challenges in the copper sector. Despite a net loss and a $900 million impairment charge in the fourth quarter, mainly due to poor nickel prices and high operating costs at its Ravensthorpe mine, the company is actively negotiating to amend and extend its loan facilities to avoid potential covenant breaches.

Additionally, it is exploring strategic investments in its Zambian operations and selling its Las Cruces mine in Spain, while hoping for a positive outcome from Panama's Presidential elections for its halted copper mine project, which was probably the dumbest worst political decision in the last 12 months in all of South America — which actually says a lot!

📰 In Other News:

🐦 What’s Happening In Quebec?

📮 Other Good Newsletter to Follow:

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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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