Why You Should Look at East Asia
Irving Resources, etc.
Talking with Claudio Grass last week, I gave my views on Keynesianism, India’s covid19 lockdown, and China’s future. In part-II of the discussion, we talk about the Third World, East Asia, why the protests in Hong Kong will do no good, and why the US is inevitably on a path to becoming increasingly leftist:
Last year, at PDAC, I gave a speech on why the world’s center of gravity for economic growth will shift to East Asia. I am more confident about this than ever before:
While I am on the topic, ask yourself if you have ever met a Japanese who blames the US for flattening Japan or interning Japanese-Americans during World War II. Then look at the US and see people who were fortunate to have been born in the world’s best country but wasted their opportunity. They now blame others for their failures. They are now going around destroying businesses and monuments. These rioters and their sympathizers will soon have a democratic majority in the US.
I spent more than ten years of my life working and planning to find a way to get to the US. It will be sad to see it go into the hands of losers, populists, demagogues, those forever expecting the free-stuff, and the non-productive people.
I must pay even more attention to East Asia.
- Irving Resources (IRV; C$2.75): They have just completed a private placement with Sumitomo Corp. It is a momentous event for IRV, for, in Japan, ownership of one of the big Japanese companies makes social acceptance easier. Sumitomo could only have been invited to the table if Newmont had agreed with it. Also, IRV has recently acquired a project close to one of the world’s highest-grade gold mine, Hishikari.
- Renaissance Gold (REN; C$0.33): REN is emerging with Evrim Resources. Both are excellent companies and have good management. REN offers an 18% arbitrage upside at the current price of C$0.39. As the closure is expected in Q3, I will look for arbitrage to improve before buying more REN.
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