Net revenues for the three and six months ended June 30, 2010, totaled $17.0 million and $25.6 million, Multiply that by 2 so around 51.2 million from ore sales. Add the 100 million contract for recycling and you get around 152 million for the year. Clearly they need better ore sales or another recycling contract to meet their goals.
Unfortunately they didn't give the data points needed to instill confidence..China Direct should be let go immediately, that said. what they have invested in will be a huge revenue driver going forward. It's all about gaining efficiencies in production..This is a new business, you just don't start a scrap facility and run it at capacity. The 1 million MT per yr is what the shredder sales literature states. So if the get to 70% utilization rates that would bring in sales close to 250 million..Plus the commodity sales. They shouldn't be so aggressive in the year end forecast with wall st. , 150 still is huge growth from 87....At least this should be the bottom now that we are in the 3rd qr, 4.5 months left for them to do 150 million...?? If they do hit that target, where will the stock be then....good luck longs, it's been a rough road