I caught up with Steve Smith, one of the greatest cricketers of the last 30 years who’s based in New York.

Great city, but after talking with some friends who live there, there is literally no way you could base yourself there long term without selling a tech company, being Steve Smith or something similar.

State taxes as well as federal taxes on top of a very expensive cost of living make it hard to justify as a base when you’re trying to building something.

In saying that, it is obviously a city where people of status from all over the world seem to have some kind of connection or piece of it in some way.

So the cost of living is probably justified.

In this edition, I’ll run through;

• Andina Copper, personal thoughts and updates

• My fully compliant tax free setup - US LLC fillings time of year (for those who do it)

• Entire investment porfolio updates (yolo-ed back into a stock I use to hold)

• Plan for the next month in South America (major decisions)

Apologies for the delay on this newsletter - I realise we’re well into March here.

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I like Vancouver. Even though the part of town I stayed in felt like an open air social crisis at times, the waterfront is unreal. And it is always interesting stepping back into a highly advanced economy after long stretches in South America.

One line that stuck with me at VRIC and it was Rick Rule saying that even fools make money in a savage bull market.

Hard to argue with that.

I watch my portfolio go up and, for a moment, feel pretty clever. Then reality kicks in when I see some absolute garbage in the resources space running just as hard.

I took a massive asymmetric bet just one year ago, after visiting Cobrasco in Colombia with then-Pampa Metals, now Andina Copper CEO Joe.

Since then, Joe basically executed on all fronts re-mobilising a drill rig to probably one of the most exciting porphryr copper distrcits you’ll find in the world and… people noticed!

My Andina dominates my portfolio. I’m an insider, I’ve got conviction, and I’m holding. That said, I’ve still got chips on the table elsewhere, and put on a decent-sized trade in another unreleated name this mnoth too, which I’ll talk about.

I’m currently parked up in Barreal, San Juan, Argentina - with views like this own the roads from our (Andina Copper) office.

Just had a visit from mentor and good friend, geologist and fund manager Tom Woolrych from Deutsche Rohstoff, and since then it has been completely flat out with Andina Copper and Ronin Resources boots work.

Busiest I have ever been in my life, wealthiest on paper as well.

As Trader Ferg says,

“Position yourself to get lucky.”

That is a lot easier to say when you do not have kids, do not carry outrageous overheads or tax burdens, and you live well within your means in South America.

But I am not blind to how hot the commodities market feels right now. It genuinely worries me that I am so heavily positioned in my biggest conviction bets.

When you sit down and talk with guys like Tom and Joe, who have seen multiple cycles and can calmly throw a bit of reality into your confidence after a big run:

“If your working in junior mining, be prepared for multiple years where there is nothing to do.”

In this newsletter, I break down my current portfolio positioning, share an updated portfolio snapshot, run through two new names I’ve added recently, and explain why I’ve started saving in a new currency after hearing Ferg mention it and then doing my own research.

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I am.

Being back in Argentina is genuinely the best thing. I’ve said it before and I’ll keep saying it: the Southern Cone of South America is the best place to be for a number of reasons.

1. Lifestyle (steak, nature, dating, zero tax juristrictions, lax visa processes)

Now we’ve seen Kast win in Chile, and the broader retreat of the left across South America continues.

I’m hopeful, and quietly confident, that Colombia follows a similar path next year.

The image above speaks volumes to me.

Not because of politics in the abstract, but because of what actually happens on the ground when governments move away from hard-left policies and toward something more pragmatic and business-friendly. Foreign investment becomes welcome again. Capital starts moving. Things that were stuck suddenly aren’t.

For someone working in mineral exploration in South America, that shift really matters.

I sometimes look back at former colleagues and bosses in Australia and see just how brutal the exploration environment has become. It’s hyper-competitive. Everyone is smart. Most geological districts have been picked over for more than a century. Projects live and die by the drill bit, and when everyone is chasing the same ideas in the same mature terrain, the odds of creating genuine shareholder value shrink fast.

South America is different. It still feels, in many ways, like a frontier in certain countries.

That’s not to say it comes without complications. Security and corruption are real considerations, but there are fewer people on the ground who truly understand how to operate here, how to navigate logistics, manage risk, and actually add value for shareholders in-country. That gap creates opportunity.

As governments move away from heavy-handed intervention and toward more investment-friendly settings, that opportunity only expands, especially for those already here who understand how things actually work.

That’s where I see the edge and asymmetry to make serious money from investments.

This end-of-year newsletter pulls together how I’ve been positioning myself across markets, structure, and geography.

Inside, I cover internationalisation, the stocks I’ve been buying and holding, and how I’m thinking about 2026.

Thanks as always to my all subscribers for the support. Merry Christmas and all the best for the year ahead.

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“Anyone who doesn’t minimise their tax needs their head read.”

And he was dead right.

Why on earth would you pay more tax than you’re legally required to?

Something about watching my hard-earned money go towards wind farms, political pet projects and a climate narrative that feels more ideological than practical never sat right with me. It didn’t feel like any of it was actually improving life for ordinary Australians.

That plus the rather large fact I wasn’t even living there anymore. But you also can’t just pack your bags, and magically stop paying tax. You need to set it all up legally, obtain residency and tax setup where you live and make sure everything is done cleanly and legally.

These past couple of years have taught me a lot about how to build a life outside a high tax country and I want to lay out what I think is the best way to go about it all. If you’re sitting in Australia or any Western country feeling squeezed by taxes, cost of living, and that growing sense that the harder you work and the more successful you become, the more headwind you cop.

South America is the answer to start building something freer, and, quite frankly, a lot more fun, in 2026 (although it’s certainly not for everyone).

Start with opening a simple foundation

Everything begins with structure and you need your legal and tax foundations sorted so you can operate normally in the world.

A perfect starting point is opening a US Limited Liability Company (in the states of Wyoming or Delaware). It’s simple, fast, very private, affordable, and gives you access to proper banking, payment processors, and USD-based business systems.

If you work online in any capacity or even locally in South America a US LLC company just works.

Next step is getting an ITIN. It’s basically the U.S. version of a Social Security Number for foreigners. It doesn’t mean you’re paying U.S. tax, it just lets you open bank accounts, get cards, deal with payment processors and anything official in the States. Couple that with a US address

Once the company and ITIN are set up, you open U.S. banking. This is where things really change. You can earn and hold USD, get proper cards, send and receive globally.

Traditional banks like Chase or Bank of America generally require an ITIN and in-person verification, but fintech banks such as Mercury, Relay, and Wise make your life a lot easier - they allow you to operate fully online, and you don’t need an ITIN to open those (just a US LLC business).

Then comes the part most people mess up. You need a real tax residency. For me that’s where I live in Paraguay. Paraguay has a simple territorial system where income earned outside the country is not taxed. It’s stable, predictable, foreigner friendly and very straightforward. You become a resident and you pay tax where you live. That’s how you legally break tax ties with your old country.

Avoid the no man’s land trap - many expats are still doing this

The worst place you can be is nowhere. You can’t stay tax resident “nowhere”. Western governments treat that as avoidance and they will follow you until you demonstrate a new tax home. You do everything clean. You leave properly. You declare what you need to declare. You pay anything owed up until the day you no longer owe it. Then you move on with your life and you operate normally.

Being a sovereign individual is not about avoiding the rules. It’s about following the rules better than most people and ending up with a better life because of it.

Who to talk to to get started?

These two services:

Jerz - The Way of Jerz

Ladislas - The Wandering Investor

Jerz handled my full internationalisation process from start to finish, every single step.

If I could tell you some of the high-profile clients he’s worked with and the outcomes he’s achieved for them (as well as for muppets like me), you’d understand exactly why I rate him so highly.

He offers a decent price. Sure, you could probably piece it all together cheaper if you really wanted to, but that’s not the point. The value is in having everything done in one place without the stress. Doing it yourself can get messy, confusing, and ridiculously time-consuming. When you factor in the time saved, and the headaches avoided, it’s unbeatable.

Just think of the money you’ll immediately start saving once everything is set up properly.

With Paraguay especially, the prices just keep rising because the demand is huge. So my advice is simple, get in while it’s still available. Who knows when the rules change.

Then there’s Ladislas from The Wandering Investor. If you want to broaden your world view, understand global investing, offshore living, tax strategy and meet people who are doing the same thing you are, he is the real deal. I’ve met a lot of people and he stands out, he’s also become a friend.

I really value the event Ladislas is running in Buenos Aires in March 2026. It’s five full days of people building offshore lives, building businesses, investing abroad, buying housing etc..

I genuinely get asked all the time about the best way to socialise, make friends, and build real connections in this part of the world. Well, you won’t get a better chance than this.

Buenos Aires has been good to me. The Twitter followers, the architecture, the culture, the steak, the people, the quality of life. It’s one of the easiest places in the world to rebuild yourself and chasing something difference. Events like this give you a community and you make real connections.

Here is the link to check it out:

The Wandering Investor Live Group Trip: Buenos Aires 2026

To summarise this article and add a bit of personal advice for the brave:

I get this quesion sometimes:

“Jordan - what the heck would I do for income in South America?”

Well, try doing your profession in South America. You’ll be surprised at how quickly you excel. You’re bringing skills developed in a high-functioning, competitive Western economy into places that genuinely value them. You stand out immediately, opportunities come faster, and if you structure your affairs properly and legally, the tax side becomes far more efficient, the same goes for any investments you hold.

And if you’re over it, try something new. Anything. What’s the worst that can happen? You go back to your safe home country and fall straight back into a comfortable job.

The simple blueprint

• Set up a US LLC company.

• Get an ITIN. (optional)

• Open US banking - personal and busniness

• Establish tax residency where you’re living (Paraguay).

• Cut ties with your home country properly (legally).

• Stay compliant.

• Earn in a foreign currency.

• Live a great life in South America - at 34, this year has been my most enjoyable yet.

The best and most efficient one-stop entry point into all of this is through Jerz.

If you have any questions, you can send them to me directly or drop them in the Geólogo Trader chat, the links are below.

Always happy to answer any questions, and thanks for being subscribed.

If you found this article valuable, a comment, like, or share goes a long way.

Cheers,

Jordan - Geólogo Trader 🇦🇺

Disclaimer:

This article is based solely on my personal experience. Everything mentioned comes from people I personally trust, individuals whose services I’ve used myself or have met in person and verified as genuine, competent and authentic.

Please make sure to do your own research and due diligence on all topics discussed.

Over the past few weeks, I’ve been mapping through the jungle in Chocó, attending the Colombia Gold Symposium in Medellín, and spending time on site at Cobrasco copper project.

All while we’re on the ground with an exploration program for Ronin Resources in Argentina.

What I’ll focus on in this newsletter:

• Andina Copper and Ronin Resources update (nothing non-public)

• A new South American pure exploration play I’ve bought on the ASX. I’ll walk through why I like it from the perspective of a former orogenic gold exploration geologist. Not advice, just a punt on an interesting frontier target.

• For those interested in internationalisation, what I’ve learned this month led me to a surprising discovery, a “factor” I had completely overlooked.

• A rundown of all my trades this month, the good and the bad with a current portfolio weighting - the most I’ve traded in months!

• What I’m looking forward to in the coming months.

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I don’t think there’s any point writing shite just to keep up appearances. To me, it’s just a waste of your time and people (should) see straight through it.

Right now I’m back on the continent of antics, South America, in Medellín, about to head out into the copper jungle with Andina Copper. Things are picking up fast and I’m fully involved in the fieldwork.

Fancy that. If you’d told me a couple of years ago, when I was sitting in a comfortable air conditioned office at an Australian mine site, that I’d be here now, I would have laughed and told you where to go.

Over the past couple of weeks I was in Bali celebrating my mentor and good friend getting married.

It was great to be back and catch up with Ferg and a few mates we have in common. I lived in Bali for about four years back when I was working as an exploration geologist in Australia, so the place always feels familiar.

The wedding itself was a serious show. An absolute spectacle with a great group of people, held in a part of Bali I had never visited before, Ungasan in Uluwatu.

In classic Ferg fashion, a man of calculated words, he nailed it in his wedding speech. He spoke about how rich he is in life, family, health, lifestyle, friendships, and that is what truly matters most.

It was great to spend time with Ferg, and of course I picked his brain on where he’s putting money to work. Off the back of that I’ve made a few changes to my own portfolio.

Markets are running hot right now, and it feels bloody good knowing that whatever I’m sitting on are taxed through my US LLC setup.

For those keeping track, that’s the blueprint I’m following to build proper wealth over the next few years.

In this article I’ll share my current portfolio, a few thoughts on the international banking side of things, and some comments on Argentina as Milei got blitzed in the first round of the midterms.

Argentina, the same old shit?

I have noticed Argentina feels cheap again, at least when I look at my bills from the past month. It is wild how quickly the pendulum swings down here. One month you feel the squeeze, the next you are suddenly back on easy street.

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I was back in Colombia visiting the Cobrasco core shed and finca. We’re pushing things forward on the ground, and with Colombia heading for a change in government next year, it’s exciting on a personal level to be involved in the early stages of what could become a major porphyry copper discovery. If policy shifts in favour of the industry, we’ll be well positioned.

I also spent some time in Antofagasta, Chile. Let’s just say it’s not a place you visit for the scenery, but geologically, it’s a different story. The coastal cordillera oxide copper belt here is special, and it’s easy to see why Marimaca Copper has such a premium share price. Our ground in this belt (Mantau), which came with the Rugby acquisition, has real potential and it was great to be on the ground there.

One of the most exciting updates for Andina is Tony Manini joining as Chairman. Tony is one of Australia’s most successful mining entrepreneurs, having played a key role in building hugely successful mining companies both in Australia and overseas. He’s also a major shareholder of Andina Copper.

Add in Bryce Roxburgh, another Australian mining entrepreneur with major South American wins, and Joseph van den Elsen leading the company with fluent Spanish, great track record, and serious business experience across the region, and we’ve got a leadership team that’s hard to beat…

And all with serious skin in the game!

We’re also preparing to up-list to the TSX-V and the ASX. Expect a steady stream of exploration and corporate updates in the near term, I’ll share more as they’re ready to go.

Onto this article: I’ll share updated portfolio positions and weightings, including a new stock I’ve bought, plus an updated international banking list with commentary.

Investment Portfolio

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That’s usually when the escape itch kicks in.

Right now I am in Rio de Janeiro, and soon I will head to Jamaica to watch my brother Beau play in the third test, West Indies vs Australia.

Being somewhat closer in Rio, and a former cricket tragic as a young bloke, I figured I better make the trip.

What I love about South America: being based in the Southern Cone means Rio de Janeiro is only a $150 flight from Aeroparque, the city airport just 10 minutes from my apartment in Buenos Aires.

Return flights from Buenos Aires are under $250 USD, and you can rent a half decent Airbnb in the wealthiest and safest suburb of Rio, for around $30-40 USD a night.

The last few mornings here in Rio have consisted of a coconut and coffee by the beach, followed by an outdoor workout. Reminds me of my Bali days. It’s winter in South America, but the weather here is perfect.

In this piece I’ll cover:

• Buenos Aires, what I’m actually spending now.

• Rio de Janeiro, second time here and loving it - all my recommendations.

• My portfolio updates, including Pampa Metals which has become a large position after an +80% gain this month.

• Internationalisation - another big update with progress.

Buenos Aires 🇦🇷

Let me get this out of the way: the place feels relentless right now.

Here comes a large rant.

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I’ll cover:

• Colombia – Thoughts from Medellín and time spent on the ground at the Cobrasco copper-moly project

• Australia’s wealth tax – The bitter disappointment continues

• Ronin Resources – A quick update for those following along

• Portfolio changes – What I’ve been buying, and where I’m sitting tight

• Final thoughts – On diversification, living situation, and how I’m thinking about asset allocation

Colombia 🇨🇴

This trip to Colombia was really eye-opening for me. I got a much better feel for the country.

I quite like Medellín, but only certain parts. The weather really does live up to the “city of eternal spring” reputation, and barrios like Envigado and Laureles are genuinely pleasant.

The northern part of El Poblado was okay too, but overall, the trip made me appreciate Buenos Aires even more. Apparently El Poblado has gone downhill big time in the last 10 years, and it felt like it.

I was lucky to hang out with Joe and while in Medellín. Joe, Pampa Metals’ President and CEO, lived there for years and knew the city well, he took me to some great local spots I definitely wouldn’t have found on my own. Tom had also been there for a few weeks and had a solid list of his own.

One surprise: I came across a surprisingly good parrilla, the Leñas y Carbón franchise. Like most places, it depends on what you order, but I had a quality 300g picanha steak with an entrée of chicharrón in guacamole for around $23 USD.

Great value in my opinion, especially compared to what I usually pay back in Buenos Aires.

It goes without saying, but the best thing about Colombia is the quality of the fruit, and of course, the coffee. Truly second to none, even if they say the best stuff gets exported, it tasted pretty bloody great to me.

So… Why Was I in Colombia? Pampa Metals ($PM.CN) 🇨🇴⛏

Tagging along with Joe to nearly every stakeholder meeting for the Cobrasco porphyry copper-moly project was incredibly valuable, the kind of experience you just can’t put a price on.

My main takeaway…?

This project will move forward. Barring any surprises, drilling looks set to restart in the second half of the year, and I plan to be there when it does.

Unless something truly unforeseen gets in the way, drilling will recommence at Cobrasco in the second half of the year. And that’s what I’m here for, I want to be onsite for drilling and deeply involved here.

We met with the Cobrasco field team, local community leaders, drilling companies, and a range of stakeholders. What stood out to me was the depth of understanding around how to actually get things done in Colombia.

I was also really impressed by the competency and professionalism of the local community who Rugby Resources has the work agreement with. They’re engaged, informed on policy, and genuinely pro-business. Support for responsible exploration practices was clear across the board.

Joe’s experience in Colombia is second to none. He’s still the X-factor when it comes to moving Cobrasco forward, and to be clear, the fact that he’s stepped in and brought this project back to life is a huge win for everyone involved.

I’m confident the market will eventually catch on to just how big this opportunity is, and when it does, there’ll be a real “oh shit” moment.

We visited Quibdó, the closest city to the Chocó porphyry belt, where Cobrasco is located. The city’s only a 20-minute flight from Medellín’s city airport, a big plus when it comes to logistics for Cobrasco.

For me, it was great to see drill hole CH003 again:

It’s seriously special drill core to any geologist.

This project is going to be a great one to track in Leapfrog Geo. You can already see in the screenshot below just how substantial the three drill holes were that Rugby Resources drilled in 2022 to discover Cobrasco.

God forbid you throw a rough Cu% volume on that at a reasonable cutoff… you might actually get people excited.

Ronin Resources Update ($RON.AX) 🇦🇷⛏

Everything is going to plan. We have a strong shareholder register and continue to advance our disciplined acquisition strategy, focused on high-quality projects that can deliver long-term value.

We’re actively reviewing new opportunities, with a clear focus on assets that have the potential to drive an immediate and meaningful re-rate.

I recently attended Arminera, Argentina’s largest mining conference. While the event had a heavy service-provider presence, I had the opportunity to speak with and present Ronin Resources to several provincial government representatives (including the Mines Minister in Rio Negro), important because all mining rights in Argentina are administered at the provincial level.

It’s also encouraging to see continued confidence reflected in our stable share price, holding around $0.20.

Finally, I’m currently working on a much-needed update to our website to better reflect our strategy and recent activity.

Australia’s Wealth Tax 🇦🇺

Australia’s government recently confirmed its plan to introduce a tax on unrealised capital gains, meaning investment gains that haven’t yet been sold or realised.

For now, this measure applies only to superannuation accounts with balances over $3 million. But the significance isn’t just about who it targets today, it’s about the direction it signals.

Once a framework like this is in place, it can be expanded over time. And when governments face structural deficits, the pressure to broaden the base tends to increase.

It’s a major policy shift, and for long-term investors, it raises important questions about how wealth is treated and what incentives are being put in place, or taken away.

Very, very disappointing.

The RBA’s started cutting rates again, which usually means they’re seeing signs the economy’s slowing down. Sure, rate cuts can give things a short-term boost, but they also put pressure on the Aussie dollar, especially when they’re happening alongside policies that make investors nervous or push capital away. It’s not exactly the kind of setup that attracts long-term investment. In fact, it tends to do the opposite.

A number of individuals I know, professionals, business owners, and investors, are already taking steps to diversify internationally from Australia.

What I’ve noticed, at least within my circle, is that people are starting to look seriously at structures and residency options in other jurisdictions as a precaution.

Paraguay still stands out as one of the more notable and realistic ones.

Here’s exactly how I set it all up - a clean, legal structure that works for anyone, not just Australians.

When policies this extreme start getting rolled out, if you’ve got the drive, it makes sense to start thinking ahead.

Of course, I care deeply about Australia, it’s home. But the way we’ve been voting, combined with a weak opposition and some of the policies we’ve seen in recent years, is making it harder for people to plan long term or feel motivated to build something meaningful. That trust in the system is starting to wear thin.

The Australian public seems to have forgotten that the country was built on a successful capitalist foundation, driven by its geographic position and vast natural resources. For decades, this combination made it one of the best places in the world to create wealth.

That said, I’m still hopeful. I was back in Australia last month and took the time to follow a few politicians more closely. Matt Canavan really stood out, he’s one of the few speaking with clarity and common sense, and I hope he gets the recognition he deserves.

Portfolio Update 📊

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It’s a full recap of how I broke ties with the ATO (Australian Tax Office), moved my income international, and built a structure that lets me legally live between my two favourite spots in South America.

I’m not high net worth. Just an average guy chasing a different kind of opportunity and financial freedom, one that isn’t weighed down by tax headwinds and a rising cost of living like back home.

I’ve spend three years outside of Australia with only the rare visit back home to see family (currently in Tasmania for my brothers wedding - the irony).

Thank god citizenship and tax are two different things, not like the US, where they’ll chase you around the world just for holding a passport.

This article breaks down the full process into eight key parts:

1. CRS – Common Reporting Standard (important)

2. Ceasing Australian Tax Residency

3. Paying the Deemed Disposal Tax Bill

4. Using a U.S. LLC for Global Invoicing & Ownership

5. Paraguay: The Perfect Tax Base

6. Potential Future Friction Points

7. Summary + Full Accounting Fees & Costs

Disclaimer: I am not an expert in these fields, nor am I formally qualified. I have simply spent a significant amount of time researching my own situation, asking questions, and speaking with people who are. It has taken up a big part of my life over the past couple of years, and hopefully you will see why.

At the end of the day, this is a legal tax structure tailored to my circumstances. If I can pull it off, so can you, but please, do your own research!

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In this article, a look at how much I’ve allocated to the current open private placement at Pampa Metals and which company I sold to participate, and why I’m excited for them to list on the TSX-V.

Opened a new trading account—this is the real ticket to legal tax-free freedom. I’ll explain why and how it’s set up.

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Despite what I say or tweet, Buenos Aires is still my favorite city in Latin America.

In Asunción, I was flat out with my new part-time role at Pampa Metals, so I didn’t get to do as much as I’d hoped—mostly parked up at El Café de Aca in Villa Morra, answering emails and handling Canadian private placement subscription forms.

It’s always great slipping over from Buenos Aires—just a cheap 90-minute flight, residency card in hand, and the cost of living/bang for your buck is unbeatable in today’s world. Airbnb is cheap, the food (steak and sushi) is excellent, the gyms are top-notch, and you can find just about anything in large shopping centres at the best prices in South America.

With all that said, I did manage to catch up with a like-minded expat in Asunción , sign a tax document to fast-track everything, check out some great nightlife spots (not indicating by who until the end), eat incredible steak, and train at the best gym I’ve come across in South America.

I also had the chance to tour the Paraguay Congress with Eduardo Nakayama—an independent senator in Paraguayan politics.

How did this come about? For those interested, it traces back to the Anthony Bourdain: Parts Unknown series on CNN. One of my favourite episodes is his Paraguay visit, where Eduardo features in a dinner with Bourdain after uncovering Bourdain’s family ties to Paraguay through his French ancestry. Eduardo is also a historian and deeply passionate about his country.

It still blows my mind where posting on social media can take an unimportant bogan Australian. Eduardo even gifted me an epic signed book on the history of Paraguayan beef (pictured below).

I’ll share some of the facts I learned about Paraguayan politics from talking to expats, locals, and Eduardo in this article (behind the paywall). This will be completely unfiltered, and you’ll see exactly why I’ve chosen to put it there. Scroll to the end of the article if you’re interested.

When I arrive in Asunción I feel as if it offers a rare mix of anonymity and freedom—it’s incredibly safe, and as a foreigner, you get the sense that the government won’t interfere in your affairs (ever). Despite its low tourism profile, it ticks all the boxes for a high-quality life abroad.

The purpose of this article is to run through the progress I’ve made on internationalisation.

I’d say I’m about 70% through the entire bureaucratic process of setting up a truly legal, tax-free lifestyle.

After numerous phone calls to my broker in Australia and a deep dive into optimising my banking setup to avoid the hefty spending fees that seem to come with banks linked to a US LLC, I’ve come up with a plan.

It’s way more cost-effective, but it does come with a calculated risk. I’ll break it all down here—what I’ve come up with and the trade-offs involved.

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At the end of the day, what I’m trying to achieve and the most important thing for me (and it should be for everyone) is freedom of choice.

What do I mean by this? I will discuss it in this article.

*Apologies for the lack of articles, sense for adventure has been overtaking me lately and I’ve been on a big mission in another South America country - more to come on all this shortly.*

Now, I won’t shy away from calling out the parts of modern-day Australia that, as a proud Australian, I find deeply frustrating. We seem to have a knack for importing woke, sabotaging our own energy system, inflating the housing market to absurd levels, making it near impossible for people my age to buy in. On top of that, we’re happily importing record numbers just to prop up an economy that essentially revolves around selling mortgages and shipping dirt off to Asia. Meanwhile, the Aussie dollar is circling the drain.

In saying that – Australia is still the lucky country, and I wouldn’t trade being from there for anything. Especially when I watched my younger brother hit the winning runs on debut for the Australian Test cricket team in Sydney. Dead set proud moment!

I tell everyone I meet – how great it is to be from Oz. But here’s the thing… I don’t live there anymore.

For now, I’ve got different priorities.

For me, recently turned 34, it boiled down to a few simple priorities:

• Optimising tax – I’d rather not lose 30-50% of what I earn. That cash? It can cover cost of living or be spent as I see fit. Paying tax to the Australian government just doesn’t feel right since I don’t live there.

• New experiences – Assimilating into a new culture, dating, living life differently from what I grew up around.

• Freedom from rigid repetitive schedules – I’m not flying to a mine site on a ridiculous roster or traveling to an office everyday.

• Exploring opportunities in Argentina and South America using my professional background (mining/exploration) - The economy is shifting in Argentina, and with Javier Milei in charge, foreign investment is eager to back the world’s only libertarian movement in power. That’s an incredibly rare scenario, and I want to be here to witness and participate in it. Just as I write this, Argentina’s closely watched country risk has dropped to its lowest level since 2018—a signal that the tides are turning.

  Beyond Argentina, I’m noticing emerging opportunities in mining and exploration across other South American countries in the coming 12-18 months. While these shifts may not be on the same libertarian scale as Milei’s, they show signs of moving in a different direction—more business-friendly and therefore opportunity.

  It’s an exciting time to be in the region, leveraging my professional background and social media network to explore and capitalise on these opportunities as they unfold.

The reality check of my current situation:

Life is great, but there’s still more I want to achieve and it isn’t all sunshine, rainbows and smooth sailing!

I’m navigating all this in my early 30s—not my 50s or 60s. While I’ve been fortunate enough to build some paper wealth, it’s not at the level of a retiree who has fewer years to plan for. That means I’m still very much in the thick of it, with plenty left to figure out.

I’ve watched countless people retreat to safety because they couldn’t handle the uncertainty. And that’s okay—not everyone is wired for this kind of lifestyle. But for those who are, here’s what I’ve learned since leaving Australia ~3 years go, as a single, quite introverted, early 30s, to explore what South America has to offer.

Below is a list of 6 steps to follow and implement after quitting your job and heading off to somewhere like South America, drawn from my experiences and the mistakes I’ve made along the way.

*This article is admittedly written from a heavily biased single male perspective.*

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As some of the “champagne expats” fully assimilated into Argentine society point out, you can’t complain about the new cost of living under Milei if you used to flex cheap steaks back in the day.

I agree.

The Buenos Aires “broke mad,” a term often attached to my photos and posts, can generally be broken down into two lad categories (from those who I’ve met).

1. The cashflow-strapped broke mad:

Here for a good time, no plans to work on anything, and likely defaulting back to the rat race within a few months. No ambition to build an alternative income (each to their own).

2. The cashflow-strapped but ambitious anti-woke broke mad:

Who realised the rat race wasn’t for them. They’ve reached a point where they looked up the corporate food chain, didn’t like what they saw, and put plans in motion to leave it all permanently. This person is figuring out an alternative way of life on their own terms. (I was this guy once upon a time.)

As the Argentines would say, “banco la segunda opción” - I fully support the second lad.

I’ve been there, and it’s why I started writing. Not many people have the guts to give it a proper go. In the early days, I struggled to find like-minded individuals, and when I thought I had, I got it completely wrong. One guy I went into business with (some of you know the story) was all talk on camera (still is, I think).

When it came to action, though, he completely fell apart, lost his mind, and realised being away from home comforts was too much of a stretch. Honestly, it’s not for everyone - which is why I fully respect anyone who gives it a proper go with modesty.

On Lowering Costs While Figuring Life Out (Geoarbitrage):

There’s absolutely nothing wrong with trying to lower your cost of living while figuring out how to build a life on your own terms.

You as the broke mad, expat or tourist are not responsible for the economic outcome of a democratic country.

The alternative is staying in an over-governed society designed to keep you from getting ahead financially - where the more you earn, the more taxes you pay, and the more obstacles you face - all while being dictated to by an ever-growing government presence

In today’s world, achieving true financial freedom is an incredibly tough journey for the independent thinker.

In this article, I’ll explore whether Buenos Aires is still worth it for the broke mad, discuss alternative options (including one that nobody seems to be talking about in nomad or expat circles), and share updates on my residency and tax situation as things progress.

My thoughts on Buenos Aires

Let’s bring it back to Buenos Aires, once the hub for the “cash-strapped broke mad.”

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“Flee the USA for freedom in Argentina.”

Doug Casey uses the Argentina and Uruguay setup as his bases.

If you’re worth over $100M like Doug, splitting time between Argentina and Uruguay to minimise taxes is a great combination.

Doug is the OG of geoarbitrage and internationalism - he’s an inspiration, no doubt, but not exactly relatable for most people like me (and maybe you).

If, like me, you want to internationalise and plan to live and setup elsewhere from your home country, the Argentina and Uruguay (expensive) setup might not be a realistic option.

And if (like me) you’re a peasant waiting on portfolio catalysts, day trading, trading options, or even crypto, a more realistic solution is the Argentina and Paraguay arrangement (in my view).

After visiting the Paraguayan capital of Asunción and experiencing it firsthand, I can confirm that the people hyping residency here were spot on - no exaggeration. The quality of life in the affluent part of town genuinely surprised me!

Asunción, Paraguay 🇵🇾

A quick rundown.

I’ve followed the residency sales pitch Twitter accounts for years, always sceptical, knowing the people promoting it have a financial incentive. But after spending a week in Asunción’s most affluent bubble with my best mate , I have to admit - it exceeded my expectations.

I haven’t spent enough time there to dive deeper, but I recommend following some expat Twitter accounts based in Asunción. After my short visit, I now realise they’re not full of shit and do offer some great insights and value.​

Here’s what stood out to me in my one week in Asunción:

Prices are in USD*

• Geoarbitrage tops my list (I know this irritates some people, but at my net worth, it still matters) - Cheap, everything!

• Quality steak – Lo de Osvaldo ($15 steaks), Patria Parrilla ($12 steaks), and O’Gaucho ($25 all-you-can-eat steak).

• Well-equipped gyms – brand new and super chill ($40, expensive, for a weekly pass).

• Great supermarkets – all the perks of the free market (among the best I’ve seen globally) – Superseis and Casa Rica.

  

• Easy transportation – Uber and Bolt rides for just $1-3 USD anywhere in the city.

• Shopping – Go to Shopping del Sol in Asunción! Paraguay is the only country I’ve seen in South America with low taxes on imported goods and great shopping.

  I bought a new iPhone cheaper than in Australia (which usually has reasonable prices for electronics) – and that was without even visiting Ciudad del Este - Paraguay’s duty-free city on the border with Brazil.

It was also refreshing to see the fruits of the free market in action - such a stark contrast to socialist Argentina.

Why Paraguay?

The main reason for my visit was to secure a Paraguay Temporary Residency and with that, I can apply for the Paraguayan Tax ID (RUC). This is my first step toward breaking tax ties with Australia and diversifying my international residency options:

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Imagine you hold a stock that you’ve built solid conviction around, and it has an active options market. To earn some additional income, you decide to write (sell) a basic option on it. If the stock finishes in-the-money (ITM) at expiry, you can take advantage of the capital gains from the option + premium. If it doesn’t finish ITM, you still keep the premium you earned from writing the option, giving you income regardless of the stock’s movement.

When I left my job in Australia, packed everything up, and started travelling, options selling made a lot of sense. It kept me busy—I monitored the market and sold premium on days when my stocks were either in the red or green. While it wasn’t always consistent, it provided some income, giving me peace of mind that I was doing something productive after leaving a demanding job back home.

Looking back over the last two years since I started trading, was it totally worth it?

Recently, I made close to my old job’s salary (on paper) within a few weeks on an asymmetric trade—Nam Cheong, a micro-cap Singapore-listed offshore services company—because I had the conviction to scale it into a large cash position, sacrificing my options-selling trading account.

After well over two years of options selling, here is how I would focus my energy to maximise my time and market opportunities if I were to quit my job and do it all over again.

What is an Asymmetrical Trade?

Take Nam Cheong, for example: bankrupt, favourably restructured debt, re-listed in Singapore, dumped by former creditors (sellers exhausted), business improving, and a CEO holding +37% of the stock. It’s a unicorn setup in hindsight, but my goal is to recognise and scale the next opportunity that comes along.

This is exactly what Trader Ferg and Brad McFadden talk about each month on Trader Ferg. Over the years, they’ve inspired me with their emotionally detached approach to downside volatility—something I used to struggle with. Slowly, I’ve gotten better at handling the stomach-churning drawdowns.

Right now, I’m a bit carried away after the last few weeks. It’s been brutal for most of the positions in my portfolio, except Nam Cheong. But that old saying, ‘you only need to be right once,’ rings true.

After Nam Cheong’s recent moves, I now believe it’s time to rethink my approach to holding stocks solely for their liquid options markets. Typically, holding stocks with active options markets means focusing on large-cap stocks (>$1B market cap), where you can capitalise on volatility and earn premiums. However, this strategy limits your upside potential, and you might miss out on the greater opportunities that micro-cap stocks with favourable asymmetrical setups can offer.

While this strategy can work well for generating income, as I’ve demonstrated, you don’t want to miss out on an asymmetrical trade setup. With these types of trades, you only need to be right once to unlock massive potential. Frankly, unless you’re trading with a significant-sized account ($500k–$1M USD), the standard 2% return expectation from options selling will be easily eclipsed by the gains from just one successful asymmetrical trade—even if it takes years for that stock to perform.

Where am I focusing my time going forward?

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The more you earn, the more tax headwind there is to keep you in your place. In other words, it’s damn hard to get ‘really ahead’ in Australia.

Now on top of that, imagine the poor buggers paying obscene rent, unable to buy into a 4X GDP housing ponzi scheme, and dealing with a cost of living crisis while slugging out long hours in a woke lefty company.

Hell.

I saw an interview the other day on ABC (Australian Broadcasting Commission), and this doesn’t surprise me one bit:

I’m in my early 30s, and I got the fuck out, but I’m still paying a shitload of taxes.

I’ve worked out that the tax I’ll pay to Australia this financial year is the same amount I’d spend on living for one year in Latin America - while holidaying in Europe, Patagonia, back home to Australia, and eating steaks and drinking Argentine Malbec wine.

Shocking. Especially when options exist to pay… Zero tax!

Qué dijiste, boludo?

On top of all this, you have a woke, disillusioned far-left government (I’m calling them far left) spending obscene amounts of those taxes on shit like this:

I digress, but I hope you get my point. Onto the main purpose of this article, which is something you would never hear about in the mainstream media or the school system: cutting tax ties from your home country.

I’ve narrowed it down to three different services (popular on Twitter/X) that offer residency packages for tax purposes. I’ve met with two of them personally, but I haven’t paid for any of their services yet. I’ll run through my findings in this article for anyone considering a similar path.

I know you guys in the US have it very tough with global taxation, but you should, without a doubt, be interested in the too-damn-easy residency path in the country I’ll talk about.

For me, the required documents to gain foreign residency are currently in Australia getting verified before they will be sent to me here in Buenos Aires, Argentina.

In other words, since my last tax article update here, I’ve decided and put in motion to break tax ties with my home country.

Here is where I’m going and what I’ve figured out:

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Additionally, I want to run through some probability numbers so you can really grasp the risks involved with junior mining and suggest an alternative investment mindset.

This is the same investment mindset that enabled me to pack up everything, leave Australia, travel, and move to Argentina.

Recently, between $10-13 billion has been spent each year on mineral exploration, yet it would be hard-pressed to point to a dozen legitimate significant discoveries in the past five years.

Of course, it is damn exciting what could be out there and the potential value it could unlock can be life-changing - lottery-like for the shareholder.

My favourite example of junior mining exploration success is the 2012 - Nova-Bollinger discovery story as told by a very highly respected geologist - Mark Bennetts.

Nova-Bollinger was a nickel-copper-cobalt discovery of the decade in Western Australia by Sirius Resources that was sold to Independence Group for A$1.8 billion.

“We were down to the last couple of hundred thousand dollars,” Mr Bennett recalled in 2013 in an interview. “It was the final drilling campaign we could afford to do.”

Sirius Resources intersected 4m of massive nickel-copper sulphide in the final RC drill hole of the program which led to the discovery of the multi-billion dollar deposit.

Literally overnight, a large number of retail mums and dads invested in the company became paper millionaires. The share price rocketed from 5c to $5 in a matter of months.

A great exploration success story, but the purpose of this article is to highlight just how rare such a discovery is.

My time working as a project exploration geologist gave me front-row seats on how not to make money as a retail investor. Discussions with fellow smart geologist colleagues were big eye-openers to just how little money retail investors make in the sector.

Even within geologist circles - who you would think would be a great circle to be in if you’re invested in the exploration sector.

It’s quite common practice for many people involved in the sector to follow a smart geologist who has all the bells and whistles of qualifications into junior exploration stocks from the odd comment they might dish out at lunchtime.

But did I witness any of them make meaningful returns in the sector during my time working in the sector?

Nope.

Let’s explore how hard it is to make money from junior exploration stocks. The value of junior exploration stocks is largely driven by what they return from drilling.

Exploring with the drill bit is how you prove what you’re worth and ultimately do the talking via assay results from the commodity/commodities you’re exploring.

Off-topic side note: Drilling is one of my favourite parts of the mining industry and something I took great interest in while working in the industry. Many exploration geologists just want to focus on the science, you might know the type, that can be a burden to a company.

I've worked on many exploration projects, and it's always an exciting time when you see potential mineralisation in diamond drill core, RC (Reverse Circulation), and AC (Aircore) drill chips. However, this excitement often quickly turns to disappointment when assay results returned from the lab a few weeks later are not as promising as hoped.

It's important to remember that while mineralisation may be identified in the lab results, for it to be significant to shareholders is a completely different story altogether.

To really drive home this point, I'm going to focus on probability ratios.

Exploration stage: Probability = 1 in 1,000 (0.1%) of these initial prospects will become a significant mineral deposit.

Discovery stage: Probability = 1 in 10 (10%) of exploration drilling projects lead to the discovery of a deposit worth further investigation.

Resource Definition Stage: Probability = 1 in 3 (33%) of discovered deposits progress to a stage where they are considered economically viable resources.

Feasibility Study Stage: Probability = 1 in 2 (50%) of deposits that reach this stage are found to be economically viable and technically feasible to mine.

Permitting and Financing Stage: Probability = 1 in 2 (50%) of economically viable projects successfully navigate this stage.

Development Stage: Probability = 80% of projects that reach this stage are successfully developed into operating mines.

The cumulative probability of a drilling prospect becoming an operating mine is approximately 0.066% or about 1 in 1,500.

Considering the timeline, it typically takes 10-25 years before a stock returns money to shareholders. During that time, shareholders often face heavy dilution to raise capital for exploration, office expenses, and salaries. This can lead to the creation of "lifestyle companies," which are well-known in the sector.

It’s a high-risk, high-reward lottery, with the best-case scenario for a shareholder often being acquired by a mining major at a premium.

Let’s talk about my own experience with investing in the mineral exploration sector for mugs - it’s quite extensive.

Early in my professional career, I bought into the idea that there had to be another Nova-Bollinger nickel-copper deposit out in the Fraser Ranges of Western Australia.

So, I invested in Legend Mining (LEG.AX), which was heavily exploring the area.

Ultimately, the stock got too frothy, and luckily, I sold my position before they announced the next round of drill results, doubting the potential for them to successfully step out and extend mineralisation returned from the first phase of drilling.

A more recent example of this is Sendero Resources (SEND.V) in Argentina. The stock became overhyped due to its proximity to the billion-dollar Filo del Sol deposit, and, unsurprisingly, they hit nothing close to what the market expected.

Now, do I know people who held both these stocks for too long and lost money?

Yep.

Luckily for me, these investments were successful in terms of returns. The point of mentioning this in the article is to highlight that finding a deposit is incredibly challenging, and this is something both geologists and retail investors need to understand.

One instance where I got it completely wrong is with Kingfisher Mining (KFM.AX).

I want to touch on this because I know many of my followers were also following this stock.

The bottom line is that I underestimated the situation and got it completely wrong. I was confident that CEO James Farrell would steer this project successfully based on geology and results.

Unfortunately, the area and commodity fell out of favour, and it appears that board members and top shareholders were likely calling the shots, forcing him to leave the company.

Now, I’m not fully convinced the story is over for Kingfisher. They’re sitting on about $2 million in cash, and Tim Neesham (well-known investor), who has been involved since the IPO days in 2021, is still heavily engaged.

My lesson here: Against everything I learned from my mentor Trader Ferg, I heavily weighted this position and have almost completely lost it.

What I was able to learn from Ferg about halfway through my geology career was vital, and I’m certain I wouldn’t be in the position I am today if I hadn’t been so lucky.

I was able to leave my job due to the paper wealth I built up from taking calculated risks in the market - or, as Ferg likes to call it, positioning myself to get lucky.

Now, this is entirely different from investing in junior exploration stocks, where you give yourself a runway with cyclical fundamentals while investing in stocks that are priced the same as a (some) junior exploration company that has nothing but “hype”.

For example: I first bought shares in Boss Energy (BOE.AX) in 2017 when it had a market cap of $31 million ( I should use enterprise value (EV) as it’s usually a better metric, but a market cap chart is easier to come across).

At that time, Boss Energy had no debt and a deposit in a great jurisdiction with plant infrastructure in care and maintenance.

Now let’s look at Sendero Resources (who I mentioned earlier) and just how much “hype” it received before any drilling assay results were returned to the market.

The risks in these two stocks at a $30 million market cap are unbelievably different.

It sounds too simple, but all that could really go wrong with Boss Energy was a nuclear meltdown (the chance of a nuclear meltdown is 1 in 1,000,000,000). Albeit, in hindsight (I know I shouldn’t use hindsight), all you had to do was sit on your hands for a number of years and let the fundamentals play out.

These fundamentals include not enough uranium supply to feed the existing 10% of the world’s overall power, without even factoring in climate change targets, AI data center power requirements, SPUT launch, Japan restarts, and the lack of projects and expertise in the sector.

On the other hand, with Sendero Resources, all that could really go right is a 1 in 1000 probability odds of drilling something worth further investigation.

Now, you're probably wondering why I invested in Pampa Metals, another junior explorer. I’ve covered it a lot on here but here is a quick recap if you’re new.

My interest in Argentina's mineral exploration developed a few months ago when I identified a possible beta tailwind with Milei, hopefully, reforming all the socialist bullshit and opening up the country to prosperity. I searched around for companies with the lowest risk to invest in.

I chose Pampa Metals because they already had a significant discovery adjacent to giant idling copper deposits (Aldebaran Resources - El Altar, Glencore - El Pachón), including one producing behemoth in Chile (Antofagasta - Los Pelambras).

I’ll repeat, they already have a discovery.

At a $10 million market cap, it seemed to be the lowest risk I could find in the country for what they already had and would (very) likely return to the market through drilling.

I'm not a large risk-taker, which is why I emphasise the safety of San Juan province in Argentina. Anything likely to happen in the copper mining sector is likely to originate from here first, making it a "first mover."

This is not too dissimilar to my initial investment in Boss Energy—a safe jurisdiction with an idling deposit where anything likely to happen positively in the sector would likely see Boss Energy as a "first mover."

Summary: I was able to quit my job and live in Argentina because I created a calculated opportunity for luck in the market, which paid off to the point of the lottery returns that people are chasing with junior explorers.

Taking a calculated risk doesn’t involve investing in junior mineral explorers where the chances of a lottery payoff are something like 1 in 1,500 probability odds.

Yes, I’ve done this, such as with my investment in Kingfisher Mining. I've learned from this and now only allocate a small cash position to these sectors.

As investors in this space, please be aware of the risks and realise there are much better places with less risk to park your money if you're seeking life-changing returns.

The best advice I can give you is the advice from my mentor Trader Ferg: identify hated corners of the market that have a strong chance of becoming un-hated in the future. Of course, this is easier said than done - but it’s quite a simple investment philosophy at the end of the day.

I love it when I ask Ferg in our monthly mentor chats about junior exploration companies and he just says to me “Why bother”.

Currently, my strongest conviction sectors are uranium, offshore drillers, coal, oil, and Argentina's first movers in copper in “safer jurisdictions”.

Thanks for reading.

I hope you are enjoying the content.

Please consider leaving me a like or comment with your thoughts.

Cheers,

Jordan - Geólogo Trader 🇦🇺

Six years ago, I dipped my toes into the world of investing with my first share purchase in a cyclical sector. Now, as I contemplate transitioning away from this sector, I'm exploring avenues to secure reliable cash flow while minimising tax liabilities.

Fully franked dividends. These dividends, distributed by companies that have already paid corporate taxes, offer not only consistent income but also tax benefits for investors.

By receiving franking credits, investors can effectively reduce their overall tax burden, making fully franked dividends an attractive option for those seeking to maximize returns while minimizing tax liabilities.

In Australia, it depends on your personal marginal tax rate and the amount of franking credits attached to the dividends. Fully franked (100%) dividends come with credits for the 30% corporate tax already paid by the company.

Investors in tax brackets higher than the corporate tax rate of 30% are required to pay supplementary tax on their dividend income. Nonetheless, the tax obligation is reduced by the inclusion of franking credits accompanying the dividends.

Conversely, if the investor's personal tax rate is below 30%, the franking credits can diminish their overall tax responsibility, potentially leading to eligibility for a tax refund.

Here's my approach and what I plan to pursue in the coming year given my current strange black sheep lifestyle in Latin America.

In essence, I aim to gradually accumulate positions in these cash-cow companies while enjoying minimal tax liabilities (if I can play it correctly).

Also, I'll illustrate why this holds significant relevance for non-Australian residents and my international audience.

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Even the so-called experts in capital gains regularly fuck-up tax returns.

Never forget they have zero liability.

My experience has been shockingly bad.

One year, they overlooked a whole heap of trades which majorly affected what I owed. I had to point out the errors for them to amend while copping their $550 tax return fee.

When I left Australia, I explored all the potential tax options I could go down.

Do I break ties with ATO (Australian Tax Office)? Do I seek tax residency elsewhere?

Taxes are even less fun when you position yourself to get lucky in the share market, and you get lucky.

But of course, that’s not a bad problem to have.

I’ve been living and travelling through Latin America for almost two years. In a nutshell, this is why I’m somewhat cornered with tax and residency.

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