CAVO coal - technically not a China Growth stock, but anytime an asian microcap posts meaningful coal news, I pay attention...worth a radar in case it gets picked up as a "coal play":
Cavico Signs Dong Giao Coal Mine Construction Contract
Company Expects to Win Remaining Project Phases Valued at $11 Million
HANOI, Vietnam, Nov. 18, 2010 (GLOBE NEWSWIRE) -- Cavico Corp. (Nasdaq:CAVO - News), a major infrastructure construction, infrastructure investment, and natural resources conglomerate based in Vietnam, today announced that its subsidiary, Cavico Infrastructure, has signed Phase I of a construction contract with Tay Nguyen Mineral Exploitation Company, a subsidiary of East North Company of Vietnam's Ministry of Defense. Under the terms of the agreement, Cavico Infrastructure will excavate and remove dirt and rocks at Dong Giao Coal Mine for the remainder of 2010.
Dong Giao Coal Mine is located at Tam Diep Village in Ninh Binh Province in northern Vietnam. The mine has estimated coal reserves of one million cubic meters. A total of 10 million cubic meters of dirt and rocks must be excavated and removed in multiple stages. Cavico Infrastructure expects to be awarded the remaining project stages at this mine, with a total construction contract value of $11 million.
"We are very pleased to be awarded Phase I of this dirt and rock excavation and removal work at Dong Giao Coal Mine," stated Mr. Hai Thanh Tran, vice president of Cavico Corp. "As soon as the agreement was made, we started the process of transporting equipment and personnel to this site to begin the construction work. We believe that with our skilled labor force and modern equipment, we will successfully complete this first phase quickly and efficiently and possibly gain larger additional contracts at this mine as a result."
Solid DD combined with timeliness and conviction is a recipe for profits.
AI
