China Direct Industries (CDII) was added to the China
Vesting Dragon Undervalued Index last Tuesday and the stock
promptly reached an interim
high of $1.59 per share up over 17%
from our coverage price of $1.35
per share. The action in CDII was much higher than average
with over volume 1.96 million shares being traded. Investors
recogized the value in being able to invest in China's growth with a
U.S. management team that consists of American citizens who make their
homes in the U.S. as well. China Vesting's previous article on
CDII, The
Best Chinese Company In America, has been our most well received
edition to date.
This morning CDII announced that its wholly owned subsidiary, CDII
Trading, completed delivery of 15,000 metric tons of iron ore from its
Mexican supplier. The iron ore was delivered to a major European
industrial trading company for the China market. China
Direct Industries launched its U.S. based international trading
operations in July of 2009 in an effort to capitalize on its business
relationships in China as well as to further diversify its revenue
base. Over the past year CDII Trading has entered into iron ore
supply agreements in Mexico, Chile and Bolivia for delivery into
China. After completion of the delivery from Mexico, management
expects to begin recurring shipments of iron ore from Mexico and begin
shipments from Chile and Bolivia into China sometime in the third
quarter as it works to finalize logistical, production and financing
arrangements with its suppliers.
http://finance.yahoo.com/news/China-Direct-Industries-iw-2913630833.html?x=0&.v=1
