EPS100Momentum (71.55)

Can IGC turn into a 10 bagger like TCK did in 2009? Huge Contract just signed.

April 27, 2010 – Comments (0) | RELATED TICKERS: IGC , TCK , BHP

IGC announced they have signed a 5 year contract with a Chinese steel manufacturer, to begin supplying iron ore. The contract is valued at approximately $160 million. Under the agreement, IGC will deliver 63.5 percent ferrous content iron ore, initially 40,000 Metric Tons (MT) per ship load, building up to 80,000 MT per shipload up to an aggregate of 1,600,000 MT over the life of the contract. The iron ore will be supplied from mines in India and shipped out of the Visakhapatnam port, off the eastern coast of India and out of Karwar on the west coast.