April 29, 2026
Modern people believe technology, education, and new institutions can transform societies within a generation or two. They confuse surface-level change with the deep moral and psychological substrate that actually holds a civilization together.
Read the full essay at Counter-Currents →
On Investments
- G2 Goldfields (GTWO; $10.25) is being acquired. There is a modest arbitrage upside, but the merger should also enable economies of scale, accelerate the path to production, and reduce corporate expenses. One could sell two July 17, 2026, $50 call options on the acquiring company, GMIN, for every 1,000 shares of GTWO at US$5.10 each, thereby “locking in” a roughly 15% return. Of course, if the merger does not proceed, one could be left exposed.
- Gold Resource Corporation (NYSE: GORO; US$1.40) is also being acquired. The arbitrage value is approximately US$1.50. One could sell June 18, 2026, $1.50 put options on GORO for US$0.30 and expect them to expire unexercised.
- Star Royalties (STRR; $0.50) is being acquired by Summit Royalties (SUM). There is a 7% arbitrage upside—modest, but still attractive. The merged entity will be run by Drew Clark, who has extensive experience acquiring royalties. I expect to hold SUM after the merger closes.
Jayant Bhandari
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