Musings on Investing

China: Where is it Going?

Gold X, etc.

Western media and governments are precisely the opposite of what western civilizational values demand. The mainstream media is “woke,” the politicians are populists, and the bureaucrats are self-serving and unaccountable. This had to happen in a democracy, which has slowly eroded the meritocracy and other underpinning values of the institutions. We are now left with Trudeau, Biden, Harris, etc. Of course, in the Third World, with their people solely focused on material consumption, and no moral consciousness, democracy has been an utter disaster.

Many people look down on China because of what the media and the CIA tell them. When these people are told about the claimed gulags in Xingjian, do they remember what they were fed about Iraq’s WMDs?

Last month, at the MoneyShow, I spoke on how covid-19 has demonstrated how good institutions of different countries are. While YouTube warns you about the video, I promise there is no hardcore pornography in it:

On Investments

  • Gold X (GLDX; C$3.43): GLDX is being acquired by Gran Colombia. I talked with Cory Fleck about GLDX a few months back. While GLDX shareholders have done well so far, there is a small arbitrage upside and what I see as another 50% upside in the merged entity.
  • Novo Resources (NVO; C$2.17): It has fallen to a price that values it at not much more than the value of its Beatons Creek project.
  • O3 Mining (OIII; C$2.37): After the conversion of the ownership of the Garrison project into shares of Moneta, OIII is now trading at a minuscule enterprise value.
  • Newcore Gold (NCAU; C$0.58): NCAU has a persistent seller. I am told that they have no stoppages because of covid. I continue to see good value in it.
  • Minaurum Gold (MGG; C$0.36): I wrote about it a few weeks back. It has since fallen to a new recent low. I prefer to buy when others are selling.
  • AuStar Gold (AUL; A$0.26): The financing that they recently did clearly goes against the interests of the shareholders. I do not trust such management. While I would no longer like to be a long-term shareholder, I am happy to own it for now for a >25% arbitrage upside it offers.

Jayant Bhandari

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