Replies to post #106 on China Armco Metals Inc. (CNAM)

[Sparky007]

Your numbers are in line with my calculations, this stock is a keeper for the long haul, I came up with $1.00 earnings off the cuff for 2010 and $2.00 for 2011 without any additional recycling facilities. The nice thing is, if this the recycling facility works this well, I believe they will look at doing this in other areas as well. Wow, it has came along way in price in a short time but it has a long way to go, with a 100% net earnings growth from 2008-2009 and projected for 2010-2011. This is my number 1 stock and have owned since the price was $3.00, without selling any on the ride up. The future looks too bright.

[mystiq]

Bogus7

This is my opinion on CNAM earning starting Q4-just 6 mo away.

720mil Mg ore over 18 mo so 40 mil/mo at 4-5% net profit
440 mil rev per yr for metal recycling so 110m/Q at 7-8% net profit

120mil at 4-5% margin is around 5 mil net profit/Q from Mg sale
110mil at 7-8% margin is around 8 mil net profit/Q from recycling

so 13 mil dollar NP/Q for 15mil shares in Q4 10 is 86 cents EPS/Q
so for full yr is $3.44.

Am I missing ? No counting any iron ore or other sales.
Any thoughts?