The South Asian Intellectual
Montage Gold, etc.
We live in an age of information. Or at least that is what we are told. Alas, a westerner misses out that telling the truth isn’t a virtue in South Asia. Expediency is. Moral consciousness is conspicuous by its absence. The South Asian intellectual does not care about his society. Driven solely by materialism, he says what gets him elevated to the position of power and wealth. Following is a brief discussion with Dr. Bruce Gilley:
Good luck to those who voted Trudeau back to power in Canada. Those who didn’t vote for him should explore the possibility of emigrating, maybe to China, which continues to move forward.
My quick look at the election results reconfirm my views that immigrants who are not of European or East Asian origin, by a vast majority, irrespective of their educational or wealth status, vote for the left, and as a result, in transforming Canada into the hellholes that they left behind. Canada is like a calm sea that will one day get hit by a tsunami. Given where I grew up, I know what the tsunami will be like.
I recently attended the Beaver Creek, and the Denver Gold shows in Colorado. Linked here is a discussion Cory, Shad, and I had about the two events and my views on uranium. My opinions on uranium haven’t budged from what I wrote several years back in the Mining Journal.
- Newcore Gold (NCAU; C$0.47): They have continued to expand the resources and are hitting higher grades at depth. The cash they have—C$12 million—should last until June 2022; they should have a revised PEA released by then. With 90,000 m of drilling being done and the results released so far, I wouldn’t be surprised if the known resources grow by 50%.
- Montage Gold (MAU; C$0.61): Many people have told me that the capital expenditure in the PEA is too high. I do not agree with this. In my discounted cash-flow model, I get an IRR of 50% using the spot price of gold, which in my mind, makes the project very economical. Given the large amount of drilling they did in the last quarter, they had a high cash burn rate. With expenses now fallen, they should end up with C$8 million in cash at the release of the feasibility report, which is expected in Q1-2022.
- Maritime Resources (MAE; C$0.13): I am perhaps, by far, the largest non-institutional shareholder. The project has excellent grades and fabulous economics. They expect to complete a feasibility report in January 2022. I fear that they might need to raise cash before the report is released. They will need C$60 million to go into production. I hope they can do some aggressive marketing to avoid raising money at the current share price, which I think hugely undervalues the company.
As is usual, I have current buy orders at the above-mentioned prices.
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