The penny stock category is often a treasure trove for investors if they do their research diligently. Here is an in-depth look into four penny stock companies that could be added to the watch list at this point.

Nicola Mining Inc. (OTCQB:HUSIF) (TSX.V: NIM) is a junior mining company that maintains a mill and tailing facility in Merritt, British Columbia, which it owns in its entirety.

Recently, Nicola Mining Inc. announced that it had inked a non-binding letter of intent with Nittetsu Mining Co. Ltd., an arm’s length public company based out of Japan. As per the terms of the agreement, Nicola would set up a joint venture with Nittetsu Mining related to the fully owned New Craigmon Copper Project owned by the company.

In exchange, Nittetsu would pay for some of the exploration costs and other expenses, which could all add up to as much as $25 million after completion. The company noted in the news release that the letter of intent was non-binding in nature and enumerated the terms that had been agreed upon to conclude the transaction. Once the due diligence and relevant negotiations are completed, the two companies aim to reach a definitive agreement.

The company’s Chief Executive Officer, Peter Espigspoke, spoke about the agreement in a short interview with The Watchlist on September 6. He noted that the agreement was a validation of the project and added that the entire transaction was focused on off-take. The latter was an indication of the fact that Nittetsu had confidence that Nicola Mining would eventually be able to provide it with off-take copper. Lastly, Espig noted that the third major aspect of the transaction was that it was non-dilutive in nature.

iQSTEL Inc. (OTC:IQST) The United States-based multinational company is currently working on an uplisting to NASDAQ and projected revenues of $120 million for the 2023 financial year. On September 13, iQSTEL Inc. announced that it had concluded the signing of a term sheet with LDA Capital for $10 million. The deal was part of the company’s strategic plan to uplist its stock on the NASDAQ Capital Market.

The company is a high-growth enhanced telecom company focused on providing universal access to news, general information, and communications. Last year, iQSTEL reported revenues of $93.2 million, and it revealed that it was on course to either hit or surpass its 2023 financial year target of revenues of $120 million. LDA Capital is focused on the alternative investment space and recently launched a $2 billion fund thanks to a new partnership. The fund is focused on region-specific investments in both pre-IPO and publicly listed companies.

Elite Pharmaceuticals Inc. (OTC:ELTP) is a specialized pharmaceutical company focused on the development, distribution, and development of niche generic products. The products from Elite Pharmaceuticals Inc. include both controlled-release and immediate-release solid oral dose products. The products are sold under the Elite Laboratories brand and also through licenses that have been granted to third-party distribution and pharmaceutical marketing entities.

On September 25, Elite Pharmaceuticals announced that on August 17, 2023, it had filed an abbreviated new drug application (ANDA). The same was accepted for review on September 19, 2023, by the United States Food and Drug Administration. The application had been for a generic product in a category of medications named opiate analgesics. It had been reported by IQVIA that the yearly combined sales for the product in both the branded and generic markets added up to $720 million in the year ended in June 2023.

Greenwave Technology (NASDAQ: GWAV), the leading metal recycling facility operator with facilities in Ohio, Virginia, and North Carolina, recently made a strategic move. That move could have a major impact on its revenue and growth prospects.

The company announced on September 26 that its recently installed sheer baler had become completely operational at the Cleveland facility. The company expects the advanced equipment to provide a considerable boost to the metal recycling production capacity of the facility. In turn, that would lead to a boost in revenues.

Sheer balers are regarded as highly sophisticated as well as important equipment in the metal recycling sector. Additionally, the fact that the Cleveland facility boasts access to nearby railroads for transporting the metals to steel mills makes it a particularly significant development. The logistical edge is expected to make the Cleveland facility a significant contributor to the revenues of Greenwave in the upcoming quarters.

Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor with regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, and assumptions about future events or performance are not statements of historical fact and may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. TheStreetReports (TSR) is responsible for the production and distribution of this content."TSR" is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. "TSR" authors, contributors, or its agents, may be compensated for preparing research, video graphics, podcasts and editorial content. "TSR" has not been compensated to produce content related to "Any Companies" appearing herein. As part of that content, readers, subscribers, and everyone viewing this content are expected to read the full disclaimer in our website.

Media Contact
Company Name: The Street Reports
Contact Person: Editor
Email: Send Email
Country: United States
Website: http://www.thestreetreports.com