Growth Capital Inc. (OTC:CGRA) Stock Gains Momentum: But Why?
As investors flock back to the markets in the new year, they are going to be looking into a wide variety of stocks, and one of those could be the CGrowth Capital Inc. (OTC:CGRA) stock. The company operates as a public holding entity and is mainly involved with undervalued and alternative assets. The company invests in all sectors, but currently it consists of two main business divisions: mining and sports technology.
Growth Capital is primarily focused on making investments in growth-focused opportunities so that its capabilities, expertise, and capital can be used to create more value for its shareholders. This past Friday, the company entered the news cycle after it provided an update to its shareholders that the Ministry of Minerals and the Mining Commission of the United Republic of Tanzania had granted Growth Capital four more four-year licenses. The licenses in question would provide the company with access to a total area spanning 140.74 square kilometers.
The extra licenses that were awarded to the company brought the number of prospecting licenses officially granted to CGrowth Capital to 11. The licenses would cumulatively work out to a total area of 330.04 square kilometers. The company also revealed that, over the course of the coming weeks, shareholders could expect further announcements pertaining to more licenses.
The company also stated in the news release that the worldwide energy transition push had resulted in a massive spike in demand for lithium. In the continued push towards decarbonization, the demand for lithium will go up at a global level. Due to the award of the licenses in a lithium-rich zone, CGrowth Capital had managed to get into a strong position to cash in on the explosion of global demand for lithium in the coming years.
