Tuesday, April 24, Terra Nostra announced that its Joint Venture Partner had signed two contracts totaling to a value of $41 Million dollars. Today, the company released an 8-k detailing each contract.
Shandong Quanxin Stainless Steel Co., Ltd. (“SQSS”)’s larger contract is with Qing Dao Baemyung Metal Company. SQSS will provide Qing with 600 Metric Tons of 304 grade stainless steel billets per month. The contract is valued at $30 Million dollars based on the current market prices for stainless steel billets.
SQSS’s second contract is with Zhejiang Yuyaohongda Stainless Steel Company. They will be providing the company with 201 series billets, which will be further processed into stainless steel strips using SQSS’s strip rolling mill. The second contract is worth $11 Million annually.
Please share your thoughts:Terra Nostra Resources Corporation Message Board