Why the Poor Stay Poor
At the recently held FreedomFest in Las Vegas, we had a very interesting panel on why poor societies stay poor. It was a discussion between Doug Casey, Rakesh Wadhwa, and me. It was “moderated” by Joel Stern. It became heated as it progressed:
Early this year, I wrote about Salazar Resources (SRL; C$0.11). Since then about 10 to 14 million warrants of SRL have lapsed un-exercised. SRL has optioned two more of its projects–Pijili and Santiago projects–to Adventus Zinc, for which apart from keeping 20% ownership in the project, SRL got paid C$2.3 million in shares of Adventus Zinc.
Based on my calculations, SRL offers an upside of between 50% to 100%, based on the market valuation of Adventus Zinc and what it is committed to spending on the projects. This, of course, does not mean that I have anything against Adventus. It is a company run by very competent people, some of the best I have known. Those after liquidity might prefer Adventus, but retail investors might find SRL a vehicle with a better upside.
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