Terra Nostra Resources exploded 51.22% on more than 10 times its average volume after the company reported record revenues of $284.8 million. Operating profits also experienced a great increase as they improved from last year’s $13.5 million loss to a profitable $1.8 million.
The management of Terra Nostra Resources anticipates that gross margins will further improve as yield rates increase, maintenance and facility operating costs lower, production increases continue, and larger volume contracted purchases replace lower volume non-contracted purchases.
Mr. Sun Liu James Po, Terra Nostra’s Chief Executive Officer, stated, “At present, strong market conditions for our products exist in China. Demand for stainless steel and copper remains high, driven by continued economic growth and development in China. This market situation has allowed Terra Nostra to pre-sell certain production at premium contracted prices. We expect these strong market conditions to remain for the foreseeable future while the Company continues to ramp up production at current facilities to full capacity to meet market demands.”
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