China Armco Metals Inc. (CNAM)

[viking86]

EXTENSION OF POWER RESTRICTIONS INTO Q4'10: Boy, that's bad news. CNAM withdrew the previously reduced guidance for FY2010 citing unsufficient clarity re. impact on its operations and revenue. At least they said no more power restrictions in 2011 with the new 5-year plan:

Due to the uncertainties as to the extent and duration of the current power disruptions, management cannot estimate its financial performance for the remainder of 2010 and is therefore withdrawing its financial guidance for the full year of 2010. On January 1, 2011 China's Twelfth Five Year Plan (2011-2015) will become effective eliminating the need for the current restrictions.


http://finance.yahoo.com/news/Jiangsu-Province-Extends-iw-2772011735.html?x=0&.v=1