The $50k Challenge – Update 13

The $50k Challenge Update 13 – 14/07/2020

Stock Code: CR1

Shares Sold: 41,666

Share Price: 0.40

Profit: $6,666 / 67%

Reason for Selling

I orginally purchased CR1 for the possibility of management acquiring a major lease in the resources space. They have done this many times in the past and have been very successful with this strategy.

After purchasing CR1 though its neighbour LEG had a major Nickel discovery which lead to CR1 focussing their resources on drilling their existing lease.

Even though this is not a bad strategy, it’s not the reason I bought into the stock and now represent a high level of risk that I’m no longer willing to accept.

I wish management and shareholders luck in this new strategic direction.

To find out more about how I analyse stocks that fit the criteria of the $50k Challenge  check out my Penny Stock Investing course.

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