9/29/2009Share
| Toro Research is initiating coverage of China Armco Metals, Inc. with a speculative "BUY" recommendation
| (Value Press Wire - 9/29/2009) -- SAN MATEO, CA - China Armco Metals, Inc. (OTC.BB:CNAM), a distributor of imported metal ore with plans to launch a new state of the art scrap metal recycling facility in China, today announced that Toro Research is initiating coverage of China Armco Metals, Inc. (OTC.BB:CNAM) with a speculative "Buy" recommendation and a performance rating of 8.5, on a scale of 10.
According to the report, our recommendation is based primarily on the company's revenue performance for the first half of 2009 as it relates to current market trends in the commodity industry, expanding growth in the company's metal recycling division, as well as the company's historical performance and additional outside factors such as recovering Chinese economy, and Chinese government's initiative to increase utilization of scrap metals usage. For more details, please visit http://www.armcometals.com . The following is an abstract for the research report.
Toro Research: China Armco Metals, Inc. (OTCBB: CNAM)
Toro Research is initiating coverage of China Armco Metals, Inc. (OTCBB: CNAM), a U.S. company doing business in China, with a speculative "Buy" recommendation and a performance rating of 8.5, on a scale of 10. The recommendation is based on the company's strong sales performance in 2009, which included two completed contracts in September valued at approximately $24 Million, as well as its upcoming, state of the art, scrap metal recycling facility. With construction of the facility already completed, recycling operations are expected to commence in December 2009, and the facility's production capacity should make the company one of China's top 10 largest scrap metal recyclers.
For the full report please visit Toro Research's website: http://www.tororesearch.com/reports/CNAM/CNAM_092809.pdf
Contact:
China Armco Metals, Inc.
Gary Liu
U.S. Representative
954-363-7333
ir@armcometals.com
Safe Harbor Statement
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, China Armco Metals, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding revenues, net income and earnings.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended December 31, 2008.
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