Musings on Investing

The Middle East Changing?

Is the Middle East emerging economically? How receptive are they to the civilization-destroying no-values of the wokes? And why India is destined to exist as a wretched place. Here is a talk with the Market Sniper:

On Investments

  • Irving Resources (IRV; $1.16): Linked is an excellent exposition of the company. While IRV has gone up since the write-up, it now owns three rigs, one of which is operational. The second one will start later this month. And the third one should be operating at the Yamagano project in September.
  • Gold79 Mines (AUU; $0.035): I wrote about this in my last musings. The price has fallen to what gives me good downside support.
  • New Hope Group (ASX.NHC; A$5.60) is a coal company brought to my notice by Jason Nutter. They have A$600 million in net cash, a P/E of 3.5, and the next dividend will be A$0.40. While thermal coal prices have fallen, NHC’s products attract premium prices.
  • Harfang Exploration (HAR; $0.205) has just completed a small raise. They are well-funded and have been steadily growing their lithium portfolio, which is poised to capture the market’s attention in the near future.
  • Peabody Energy (NYSE.BTU; US$23), Coronado Global (ASX.CRN; A$1.68), Whitehaven Coal (ASX.WHC; A$6.77), Yancoal (ASX.YAL; A$5.50), and Warrior Met Coal (NYSE.HCC; US$33) have fallen significantly since my last writeup on them. I see nothing fundamental to have changed except that the market has become very risk-averse.
  • Riverside Resources (RRI; $0.125) has an extensive portfolio of projects and royalties, which are likely worth its market capitalization. And it is trading for the encumbered cash it has in the bank. I see an easy 100% upside.
  • Salazar Resources (SRL; $0.10): Their last raise was at $0.10, which will soon come free trading. Based on my calculations, SRL should trade for at least 1/3rd of its partner, Adventus Mining’s share price, which is $0.42. That gives me a value of $0.14 per SRL. If the two companies can deal with the political risks in Ecuador, there is another 100% upside.

I will attend a new resource conference in Singapore in early April.

Finally, a chapter of Capitalism & Morality is starting in Calgary (Canada). If you have an interest in that event, please register here.

Jayant Bhandari

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