SOURCE: Stock Market Alerts

March 04, 2010 08:35 ET

Ahead of the Bell: China Armco Metals - March 4, 2010

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Stock Market Alerts LLC

MIAMI, FL--(Marketwire - March 4, 2010) -  Stock Market Alerts' performance stock list includes: China Armco Metals, Inc. (OTCBB: CNAM), Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), Newmont Mining Corporation (NYSE: NEM) and AK Steel (NYSE: AKS).

China Armco Metals, Inc. (OTCBB: CNAM) announced that Armet Renewable Resource Company, Limited, the Company's wholly owned subsidiary, has signed a contract to supply a major Chinese steel producer with up to 230,000 tons scrap steel in 2010. The press release states that based on the current spot price of scrap steel, this supply contract is valued at over $100 million.

The contract calls for the delivery of up to 23,000 metric tons of scrap steel per month for 10 months beginning in March of 2010. Management anticipates this supply contract will allow the company to sell all of the initial production from its recently completed 1 million ton recycling facility during the first several months of operation. Additionally, management anticipates reaching a full capacity run rate sometime in the fourth quarter of 2010. At full capacity the facility is capable of processing approximately 1 million metric tons of scrap steel per year or over $400 million annually at current prices

Commenting on the supply contract, Mr. Kexuan Yao, CEO and Chairman of China Armco Metals, Inc., stated, "We are very excited to have secured such a sizable contract with this leading steel producer. This essentially has pre-sold the first several months of production from our newly opened facility as we ramp up capacity over the coming quarters. We are confident that this contract coupled with our other operations will enable our company to experience significant revenue growth and enhanced earnings power for the foreseeable future."

The stock closed yesterday at $5.30 cents a share.

For an in-depth profile of China Armco Metals, visit  http://www.wallstreetenews.com/view-company-profiles.php?profile=CNAM_080909.

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) up 1.6% on 16.9 million shares traded.
FCX is a leading international mining company with headquarters in Phoenix, Arizona.

Newmont Mining Corporation (NYSE: NEM) up 0.4% on 7.7 million shares traded. 
Newmont Mining Corporation is one of the leading mining companies in the U.S.

AK Steel (NYSE: AKS) up 0.7% on 7.1 million shares traded.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets.

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