Small Cap News Movers for 3/4/10

SinoCoking Coal and Coke Chemical Industries, Inc. (NASDAQ: SCOK) announced that it broke ground today on the construction of its new state-of-the-art coking facility in Pingdingshan city, in Henan Province, China. The new coking facility, which will cost an estimated $70 million to complete, is expected to launch production of metallurgical and chemical coke, coal gas, and various chemical products by early 2011. The cleaner, more efficient coking facility will have an anticipated maximum annual production capacity of 900,000 metric tons of coke.

Coldwater Creek Inc. (NASDAQ: CWTR) reported financial results for the three-month and twelve-month periods ended January 30, 2010. Net sales were $318.4 million, compared with $283.2 million in the fiscal 2008 fourth quarter. Gross profit for the fiscal 2009 fourth quarter was $90.3 million, or 28.4 percent of net sales. Net loss for the fourth quarter was $9.7 million, or $0.11 per share, compared with net loss of $18.6 million, or $0.20 per share, for the fiscal 2008 fourth quarter.

China Armco Metals, Inc. (NYSE AMEX: CNAM) announced that Armet Renewable Resource Company, Limited, the Company’s wholly owned subsidiary, has signed a contract to supply a major Chinese steel producer with up to 230,000 tons of scrap steel in 2010. The contract calls for the delivery of up to 23,000 metric tons of scrap steel per month for 10 months beginning in March of 2010. Based on the current spot price of scrap steel, this supply contract is valued at over $100 million.

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