There’s a newly updated, recently trading gold & silver penny stock play to add to the watchlist after seeing its largest volume session since updating their fins on OTCMarkets. CGrowth Capital Inc. (CGRA), once a failed health care services and technology holding company, is under a new direction focused on acquiring or “claiming” land assets and providing whatever is needed for the successful execution of mining operations. It all sounds good enough to force CGRA stock onto the penny stocks to watch list immediately.
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CGRA Stock Chart
Market Cap: 10.38M
Close: 0.0519, down -0.002 (-3.71%)
Dollar Volume: $22,794
Average Trade Size: 62,180
Issued and Outstanding: 200,052,270
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There is no news out and the fins are irrelevant since the business plan changed days after the filing. On July 12, 2012, the major shareholders of CGRA closed on a transaction transferring control of CGrowth Capital to a group that possessed established relationships and contracts for significant mining assets, joint venture agreements, and corporate acquisitions. Since the closing, the Company has already shifted its focus and executed on two non-binding Letters of Intent with asset holders, a processing company, and a joint venture partner.
Basically, CGrowth is said to be trying to secure the funds necessary for the new group to execute on opportunities and grow its asset base. Recently acquired assets, under a Joint Venture Agreement are said to consist of the rights to an ore processing agreement enabling conversion of raw ore materials into marketable commodities, such as gold and silver. Furthermore, a non-binding Letter of Intent was also said to have been negotiated for the rights to purchase outright the land, claims & mineral rights from the underlying asset holder.
About CGRA Stock
CGrowth Capital Inc. is a holding company for businesses and assets focused on all aspects of mining. Through its holdings and affiliates, and partners provides capital, diverse services and processing applications for land owners specific to exploration, mining and metal processing in the Western U.S.
Bottom Line: CGRA is a must add to the list of penny stocks to watch based simply on their trading history, new direction for mining, and the fact that they have been increasing volume slowly week by week. With a breakout on CGRA stock above its 8-cent high on Friday, the game plans change a bit. However, a steal of a entry at the 4 or 5 cent range is worth taking a shot on.
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