CMOC Why leave cash Scotia Project

 2013 年 3 月 21 日 China Times With the imminent start of this year, but now CMOC had to temporarily abandon the construction of the two projects, because that is when the listing last October , plans to raise funds 3.646 billion yuan, can actually raise only 558 million yuan of funds, the funds raised simply can not meet the demand raise investment projects. China Nonferrous network.
High-tech Zone in Luoyang City, Henan Province, the west end of Riverside Road, more than 300 million square meters of land a silence. China Nonferrous network.
In this piece of land north of a large plant is CMOC (603993) a wholly owned subsidiary of Luoyang Molybdenum target  Group Metal Materials Co., Ltd. The company is mainly responsible for China Molybdenum Tungsten Molybdenum series smelting and deep processing. China Nonferrous network.
2011, will be located in Luoyang city government metallic materials company's more than 300 million square meters next to land 126 million yuan price auction gave CMOC for future CMOC construction projects as well as high-performance tungsten carbide alloy deep-processing projects . China Nonferrous network.
With the imminent start of this year, but now CMOC had to temporarily abandon the construction of the two projects, because that is when the listing of the Company in October last year, plans to raise funds 3.646 billion yuan, but in fact to raise money for only 558 million yuan, the proceeds can not meet the demand raise investment projects. China Nonferrous network.
However, the CMOC give up two equity investment projects, it is precisely the company's future in the tungsten industry chain downstream processing aspects of the two key projects, the most recent years, tungsten, molybdenum products have gradually replaced products become CMOC a new profit growth point, these two projects abortive, making CMOC future earnings expectations changed significantly. China Nonferrous network.