CGrowth Capital Inc (OTCMKTS:CGRA) Stock Falls After a Key Update

Public holding company for undervalued and alternative assets, CGrowth Capital Inc (OTCMKTS:CGRA), on May 17, 2023, announced the launch of its innovative mining division. The company, which is industry and sector agnostic, will be strategically targeting both the market for clean energy metals as well as the demand for precious metals.

Trading Data

On Wednesday, CGRA stock slid 11.76% to $0.0210 with more than 2.81 million shares, compared to its average volume of 1.26 million shares. The stock moved within a range of $0.0185 – 0.0245 after opening trade at $0.0228.

CGrowth Capital Unveils New Mining Division Targeting High-Demand Clean Energy and Precious Metals

CGrowth Capital aims to harness unprecedented opportunities within the mining industry and natural resources sector. The global precious metals market experienced much surge, leading to an impressive valuation of $198.5 billion. Further, the clean energy metals market is witnessing an upswing, driven by the global adoption of sustainable energy solutions.

Mitchell Smith, CEO of CGrowth Capital Inc said that the new mining division enables the firm to enter an exciting chapter. Smith added that it is a strategic move and will benefit shareholders. The CEO added that the company is focused on high-demand clean energy metals, and it promises to offer significant returns in the short and medium term. The global mining market is projected to skyrocket to $2775.5 billion by 2027.

Nicolas Link, Chairman of CGrowth Capital said that CGRA would be ahead to capitalize on the growing demand for precious metals and clean energy. Link added that the firm has a strategic commitment to these metals, which will fuel the growth, drive shareholder value, and enable the company to stake a claim in the global mining industry.