The $50k Challenge – Update 19

The $50k Challenge Update 19 – 14/01/2021

Stock Code: PF1

Shares Purchased: 34,482

Share Price: $0.29

Total Shares: 196,645

Reason for Purchasing more:

  • Since my original purchase on 24/11 one of the directors has purchased shares on market on 3 separate occasions which is fantastic. Since listing he has now purchased over $300k worth of additional shares on market.
  • Iron Ore has continued to climb higher which has brought into play PF1s great Iron Ore asset which hosts a 343mt @54.5 FE JORC asset. Next door to PF1s lease is FMS lease which has a JORC asset of 750mt @55.4% FE. Now FMS has an EV of roughly $180m while PF1 is only $13m.

To ensure complete transparency, I own a substantial amount of shares in PF1 in my own personal non public portfolio with various entries between 18.5c – 25c.

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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