A Mexico-based micro cap announced that it has signed a contract with CEMEX, where it is agreed to supply the cement producer plants located in the center region of Mexico (Atotonilco, Tamuin, Tepeaca and ECSA) with 100,000 tons of silica sand annually, according to the release. Shares of Mucinno Holding, Inc. (OTCPK:MCNO) rallied on the news.
Mucinno is a company with more than 20 years of experience; it is focused on mining activities such as the extraction and transportation of minerals and aggregates. It is the national leader in recycling, giving quality to silica sand. It owns two mines and transport equipment that allows it to supply its customers. The vision of the company is to evolve in its industry, offering new services; at the same time developing new companies that offer innovative products. It also aims to acquire strategic companies and expand to other countries distributing its finished products and replicating its business.
Traders were momentarily over the moon on the news as shares ripped up to $0.1079/share (+57.06%) at the session high. As previously mentioned, this move was temporary as shares have be trading only slightly positive on the day around $0.069/share (+0.44%) as Tuesday's session wound down.
