Corruption is Deep-rooted
In the following essay, which will be a chapter in my book, I argue that corruption in India is not an aberration but a cultural constant, rooted in the country’s very psychology and social fabric. What passes for morality is mostly imitation, performed for Western approval rather than born of genuine introspection. Words like “justice” and “equality” are imitative gestures. India’s institutions—bureaucratic, legal, and religious—exist not to serve or reform but to dominate and extract:
Nepal is reenacting Lord of the Flies: ideologically driven youths who have never had their character tested or carried real responsibility are demanding a utopia. This is nothing more than an expression of a deep-seated instinct for free stuff—an instinct sugar-coated to appear charitable to outsiders, as in the belief that having a woman run the country somehow proves Nepal has arrived. In truth, it’s also a way to deceive themselves, for they lack even the slightest capacity for self-reflection—Nepal makes India look good. Here’s my discussion with Andy Millette:
On Investments
- ROK Resources (ROK; $0.22) is being acquired for cash ($0.239) and a private spinoff. The arbitrage upside is 29% and the annualized upside, based on the expected closure date, would be 526%.
- Falcon Oil & Gas (FO; $0.195) is being acquired. The arbitrage upside is 32%, and the annualized upside is 122%.
- Kesselrun Resources (KES; $0.11) is being acquired. The arbitrage upside is 13% and the annualized upside is 240%.
- MTB Metals (MTB; $0.025) is being acquired. The arbitrage upside is 26%, but only if you buy at $0.025. Eventually, it should get filled. Those more entrepreneurial might consider bidding for shares in the US or Frankfurt markets at a slightly higher price than the Canadian equivalent—the market-makers will do the work for you.
- Irving Resources (IRV; $0.27) is drilling both of its projects—one in partnership with JX Mining (Japan’s largest mining company) and the other with Newmont and Sumitomo. News from both projects is expected soon. Their recent financing has come free-trading, so stink bids are advisable.
- Aztec Minerals (AZT; $0.22) is drilling deeper at its Tombstone project in Arizona. They recently raised $10 million at a price above the current share price.
- Group Eleven (ZNG; $0.33) continues to deliver good results from its ongoing drilling. It is trading near its recent financing price.
As is usual, I have buy orders sitting at the prices mentioned above.
Videos from the recently held Capitalism & Morality are now being released. Linked is the partial playlist—many thanks to Maurice Jackson of Proven & Probable for his excellent work editing them, which he has graciously done for several years.
Jayant Bhandari
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