Only 10 million shares with market cap below $40 million... The new plant when at full capacity will be able to produce $390 million in revenues!
From a meeting with Geo investing team:
China Armco Metals is on track to commence operations of its scrap metal recycling business in its 2009 fourth quarter. This will be a new source of revenue for the Company and is expected to make a serious impact on China Armco's business as it moves through 2010. Based on current scrap metal prices, when operating at full capacity the Company's recycling segment would be capable of generating revenues of $390 million. China Armco did not provide information on when it believes full capacity can be attained, but feels comfortable that it can reach 50% capacity utilization by the end of its 2010 second quarter. For the six months 2009 CNAM reported revenues of approximately $28 million.
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