Musings on Investing

War on Cash

Miramont Resources

Many people who understand the importance of gold erroneously believe that Indians are monetary experts, the reason why they buy so much gold. On a per capita basis, people in the Middle East buy more. The reason these people buy gold is that they cannot trust their banking system, the stock market, the society in general, and often even their own families and friends. Investing in their economies makes no sense to them, as it offers them negative yields. No wonder they buy gold and hide it somewhere in the ground.

Recently, I talk with Patrick Vierra of Silver Bullion on the above issues:

Silver Bullion has an excellent gold and silver storage facility in Singapore, which along with my friend, Brian Leni, a fellow analyst and investor, I recently visited:

On investments…

Miramont Resources (MONT; C$0.10) has two projects in Peru. For the last few months, they have drilled their Cerro Hermoso project. The results have, as expected in the early phase of drilling, not very encouraging. However, both of their projects have the potential to be large, and will likely need someone with access to a large amount of cash to do the needed drilling. After today’s news, MONT has got sold off.

MONT has C$3.5 million in cash. Its market capitalization is C$5.5 million. I am very happy accumulating MONT at C$0.10 today, while MONT waits for a larger player to option the projects. In times when cash is the king, I am paying only C$2 million for the projects.

Linked here is my latest talk with Cory Fleck, discussing several issues to do with investing in junior mining companies, including my recent site visit to Irving Resources (IRV).

Finally, recently, Maurice Jackson talked with Rick Rule about his approach to investing. They also talked about Capitalism & Morality, a philosophy seminar I run every year in Vancouver:

Warm regards,

Jayant Bhandari

Associate: Rajni Bala

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