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.
Please remember all content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.