Stock in Focus: China Armco Metals - October 28, 2009
28 Oktober 2009 - 1:38PM
Marketwired
Stock Market Alerts' performance stock list includes: China Armco
Metals, Inc. (OTCBB: CNAM), Exxon Mobil Corporation (NYSE: XOM),
Patriot Coal Corporation (NYSE: PCX) and Alcoa, Inc. (NYSE: AA).
Last month, China Armco Metals, Inc. (OTCBB: CNAM), which
reported Second Quarter revenues of $22.5 Million (71.2% increase),
announced that it had completed a contract to supply iron ore
valued approximately $15.98 Million in the Third Quarter of 2009.
Now there is additional news.
This morning the company announced that the Board of Directors
has appointed Tao Pang, Heping Ma and William Thomson as directors
of China Armco Metals. In addition, China Armco Metals established
an Audit Committee, Compensation Committee and Nominating and
Governance Committee and each of the directors were appointed to
serve on these committees. The Board has determined that each of
the newly appointed directors qualify as independent directors
under the applicable rules and regulations of the Securities
Exchange Act of 1934.
Commenting on the appointment, Mr. Kexuan Yao, CEO and Chairman
of China Armco Metals, Inc., stated, "We are extremely pleased to
appoint these distinguished gentlemen to our board as independent
directors. As we position the company for the future and seek to
list our company's shares on an exchange, their independent voices
in our corporate governance will be critical to our future success.
Each member brings a wealth of knowledge in key aspects of
financial, metallurgical and industrial management and we look
forward to benefiting from their guidance as we grow our company
for the benefit of the shareholders."
In the month of September, China Armco Metals announced that it
had completed two separate contracts, one valued at approximately
$8 Million and the other at $15.98 Million. By these numbers alone,
it seems the company is in position to post yet an additional Third
Quarter increase. Investors are urged to closely monitor the stock
for future developments which could send the stock higher.
The stock closed yesterday at $3.23 cents a share.
For an in-depth profile of China Armco Metals, visit
http://www.wallstreetenews.com/view-company-profiles.php?profile=CNAM_080909.
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Exxon Mobil Corporation (NYSE: XOM) up 2.2% on 30.3 million
shares traded. Exxon Mobil Corporation and ExxonMobil Foundation,
the primary philanthropic arm of Exxon Mobil Corporation in the
United States, engage in a range of philanthropic activities that
advance education, health and public policy in the communities
where ExxonMobil has significant operations.
Patriot Coal Corporation (NYSE: PCX) up 14.2% on 21.7 million
shares traded. Patriot Coal Corporation is a leading producer and
marketer of coal in the eastern United States, with 14 current
mining complexes in Appalachia and the Illinois Basin.
Alcoa, Inc. (NYSE: AA) down 3.5% on 29.9 million shares traded.
Alcoa is the world leader in the production and management of
primary aluminum, fabricated aluminum and alumina combined, through
its active and growing participation in all major aspects of the
industry.
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company also maintains a contractual, working relationship with
Wall Street Capital Funding LLC. and its Wall Street News Alert
brand. For current services performed for China Armco Metals, Inc.
(OTCBB: CNAM), China Direct Industries, Inc. ("China Direct
Industries"), Dragon Capital Group Corp, China America Holdings,
and Dragon International Group Corp., the company has been
compensated a total of Three Hundred Thousand Dollars (Two Hundred
and Fifty Thousand dollars for current services and Fifty Thousand
dollars for previous services) by China Direct Investments Inc., a
Florida corporation, and a wholly owned subsidiary of China Direct.
The company does not hold any shares of the stock. Because the
company received compensation for its services, there is an
inherent conflict of interest in the company statements and
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