Category: Capitalism Morality

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Base Metals Capitalism Morality Energy Junior Mining Precious Metals Project Generators

Jayant Bhandari – Why Societies Take Millennia to Change

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

Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may contain errors. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendations. I will not and cannot be held liable for any actions you take resulting from anything you read here. Conduct your due diligence or consult a licensed financial advisor or broker before making any investment decisions. Any investments, trades, speculations, or decisions made based on any information found on this site, expressed or implied herein, are made at your own risk, financial or otherwise.

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Base Metals Capitalism Morality Exclusive Interviews Junior Mining

Idols without Conscience

From my last musings, I continue the story of my life in engineering college in India (late 1980s). India today, if you are curious, is even more superstitious than it was then—modern technology has not enlightened people but only sharpened their irrationalities, leaving its benefits largely wasted or turned negative:

On Investments

Many people ask me about arbitrage investments. What follows is a newly released, reworked version of an old talk I did with Mining Stock Education:

As mining equities rise in value, I look for safe harbor in arbitrage opportunities—not only in the mining sector but across the broader market. Often, I can avoid putting up cash entirely by selling put options at or just below the arbitrage value, timed to the merger’s expected close if the payout is in stock, or as long-dated as possible if it’s in cash. In the latter case, I collect the richest premiums, and the options expire with the merger anyway.

Here are some current arbitrage opportunities:

  • Nuclear Fuels (NF; $0.335): Offers an 18% upside, with the merger expected to close within a day or two. The annualized upside is absurd—higher than even the worst inflation Zimbabwe ever suffered. I added more yesterday at $0.335.
  • Canadian Gold (CGC; $0.35): Offers a 16% upside at its latest price of $0.365. Since the acquiring company, MUX, is highly volatile, I prefer to accumulate closer to $0.35.
  • EMX Royalty (EMX; $5.72): Offers a 10% upside. With liquid stocks, the spread usually closes in days. In this case, it isn’t closing, as many are selling after doing very well in EMX. I’m buying more—9% is still on the table. Annualized through end-2025, the upside is ~40%.

I hope to have the videos of the recently concluded Capitalism & Morality seminar uploaded over the next few weeks.

Jayant Bhandari

Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendations. I will not and cannot be held liable for any actions you take resulting from anything you read here. Conduct your due diligence or consult a licensed financial advisor or broker before making any investment decisions. Any investments, trades, speculations, or decisions made based on any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.

https://jayantbhandari.com/idols-without-conscience-nf-emx

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Base Metals Capitalism Morality Energy Exclusive Interviews Junior Mining Precious Metals Project Generators

Rick Rule – Where Wealth is Made Now

New Orleans Investment Conference, Proven And Probable

Register Here:
Rule Symposium: https://bit.ly/458dgJr
Capitalism & Morality: http://bit.ly/4od95Vl
New Orleans Investment Conference: http://bit.ly/45lwjAm
Battle Bank: https://battlebank.com/
Battle Bank Finance Opportunity: https://battlebank.com/battle-financial-inc-invest/

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Base Metals Capitalism Morality Exclusive Interviews Junior Mining

Capitalism & Morality 2025

From the offices of Jayant Bhandari:

The program for the next seminar on 23rd August 2025 is linked here. 

This is a friendly reminder that seats for Friday dinner with Albert Lu are limited. Only the first eighty people who register will be invited. Of course, the price of the ticket will increase as the event date approaches. 

If you are already registered, I will email you in two weeks to ask if you will be attending the Friday dinner with Albert Lu. 

You may use coupon code PPC2025 for a 10% discount. 

While I quite liked our usual room for the seminar, we had audio problems there. So, the new location will be a couple of blocks away. Please make a note of the seminar room location from the webpage. 

The playlists of all the past Capitalism & Morality seminars are linked here. 

Regards,

Jayant Bhandari
www.jayantbhandari.com
Skype: jayantbh (voicemail)
Telephone: +1-206-317-1236 (voicemail)
email: contact@jayantbhandari.com
Subscribe to my free musings here

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Capitalism Morality Precious Metals Uncategorized

India: Another Demonetization?

India is demonetizing again. This time it is the INR 2,000 bills that were issued when the last demonization of 2016 happened. Here are my thoughts:

I will soon have another article about Argentinian-style dual rates emerging in India.

On Investments

Many people who invest in mining have a very bullish expectation of a specific commodity and use mining companies as a proxy for that commodity. In the following discussion with Brian Leni, I explain why this is erroneous.

https://youtube.com/watch?v=MLVsCuZhwrQ%3Ffeature%3Doembed

In our discussion, I mentioned coal companies. Linked is what I wrote earlier about them. I also like New Hope Group (ASX.NHC; A$4.95).

Jayant Bhandari

Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendations. I will not and cannot be held liable for any actions you take resulting from anything you read here. Conduct your due diligence, or consult a licensed financial advisor or broker before making any investment decisions. Any investments, trades, speculations, or decisions made based on any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.

Categories
Base Metals Capitalism Morality Junior Mining Precious Metals

Wokes aren’t Leftis – Gold79 Mines – Jayant Bhandari

Musings on Investing

POSTED BY: JAYANT BHANDARI MARCH 1, 2023

Many people consider wokeism to consist of harmless, left-wing talking points. Darcy Gerow and I discussed that these people should not be regarded as leftists, certainly not communists:

On Investments

Gold79 Mines (AUU; $0.035) has released some exciting results from their Gold Chain project, with one hole (GC23-28) grading 51 g/t over 9 m. This hole is at the junction of the Tyro mine vein and White Spar fault, opening up a possibility of a so-far unexplored higher grade zone. Here are briefly their projects:

  • The drilling at the Gold Chain project is giving them approximately 30 m of 1.5 g/t Au over a structure that is 100m deep. They have, in my view, shown a 500 m strike length at the Tyro mine vein. This would equate to about 200,000 oz. This rock should be oxidized. This, even without the higher-grade hit, should justify the market capitalization. Moreover, in its news release, the company believes that the strike could exceed 2,000 m, giving it the potential to contain 800,000 oz. If further drilling proves this potential, the upside from this project is substantial.
  • The Jeffrey Canyon project has been optioned to Kinross. To earn 70% of the project, Kinross must pay US$5 million in cash and spend US$0.6 million. Assuming this agreement continues, AUU will have earned US$5 million in cash and retained 30% of the project, whose attributed value based on money spent by Kinross would be US$2.4 million. This would be a total value of US$7.4 million or $10 million for AUU.
  • AUU bought the Tip Top project for a consideration of over $1.5 million in 2020.
  • The Greyhound project is being operated by Agnico Eagle, which has spent $3 million to earn about two-thirds of the project. The attributed value for AUU is $1.5 million.

Based on the above, I see the market capitalization of AUU well-underpinned by the Gold Chain project. The recent higher grade hit, the potential at Gold Chain to prove a much longer strike length, and the other three projects give me a free upside.

AUU is short of cash. They also have 27 million warrants with an exercise price of $0.05 (expiry, November 2025). Twenty-seven million shares from the last financing will be free-trading on the 19th of March, 2023. They have 174 million shares, most of which are with retail investors. While I see a terrific upside, these technical reasons could limit the move up for the next few weeks, particularly when AUU has increased by 60%. I am happy to bid at C$0.035.

Jayant Bhandari

Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendations. I will not and cannot be held liable for any actions you take resulting from anything you read here. Conduct your due diligence, or consult a licensed financial advisor or broker before making any investment decisions. Any investments, trades, speculations, or decisions made based on any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.

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