i was asked to post this here too (from CGS board):
CNAM - you can't hold this against them:
One of these was the illegal removal of the restrictive legend of CEO Yao's personal 1.3M restricted shares that Yao illegally authorized in conjunction with his private $5M loan from Crisnic.
Crisnic did illegal things, not China armco
if you ask me, their revised guidance for the 2nd half of 2010 was very reasonable... but what are you going to do when the chinese government decides to step in and micromanage everything and pretty much slow down everything 90% in the 2nd half of the yar by imposing power restrictions that for the most part cause major traffic jams throughout the country because companies switch to diesel generators.
hate on them all you want, but in terms of discounted future cash flows, the picture hasn't changed much over the last 365 days, the last half a year, the last quarter, or the last month
i'm kind of hoping that we see ridiculously low prices (even though this is a core position of mine, I'd like to double up at a predefined price that i'm not going to publicize for fear of competition on the bid)... i don't think worden would be disappointed either... lol.. this is going to be really easy money in the next 1-2 years from these prices. i'm in fantasy land.
