Two stocks bought today, one heavily beaten down stock of this year and one mining stock.
First stock is Freelancer Ltd (
FLN) which has gone down most of the year and from what I have looked into it's been feared that the other online players that are emerging will erode Freelancer's market share. I think the sell down due to this fear is over done and it is due for some recovery. FLN is still the largest in it's space as the latest company info states:
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Wednesday, 18 October 2017 - Freelancer Limited (ASX: FLN), the world’s largest freelancing
and crowdsourcing marketplace by total number of users and total number of jobs posted...
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2nd stock is Metals X Limited (
MLX). I've been following the progress of this stock more than a decade and it has been managed well in my opinion over the years. In recent years it has spun off it's gold assets into a separate company called Westgold Resources Ltd (WGX). It mines Tin which brings in the cash and that operation has been going on since I've first came across this stock ages ago. It also had a massive Nickel/Cobalt deposit named Wingellina, that was evaluated for mining but was put on hold due to lack-luster economics due to Ni/Co prices at the time.
The reason for buying is due to the latest announcement that MLX is re commencing studies at it's Wingellina Ni/Co deposit due to improved prices in the current market. If economics add up for this round of studies it could re-rate the company because this is a big deposit, as the company states:
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Wingellina, also known as the Central Musgrave Project (CMP), remains as one of the largest undeveloped nickel-cobalt deposits in the world.
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