At the previous close, the stock of Mucinno Holding, Inc. (OTCPk: MCNO) was up 29.63% to $0.056. On Monday, MCNO stock traded in a range of $0.0428 to $0.0560. In all, 497,078 shares were exchanged. MCNO’s 52-week range was reported as $0.0070 – $0.6650. A report that the company and its suppliers have been negotiating a contract helped MCNO stock rise.
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What has MCNO been negotiating for?
Mucinno Holding specializes in extracting and transporting aggregates within the mining industry. In addition to owning two silica sand mines, MCNO owns a fleet of vehicles to deliver its products. Through expanding their service offerings and being innovative by creating goods from their own raw materials, MCNO aims to expand their market share.
Mucinno Holding announced last week it is in talks with CEMEX over supplying silica sand and providing transportation services. The MCNO has agreed to continue to supply 75,000 tons of silica sand annually to the different concrete plants within the central region of Mexico. The strategic location of the mine takes away competition in the region, which is a major advantage for MCNO.
Located throughout the Americas, Europe, Africa, the Middle East, and Asia, CEMEX provides quality products and dependable service to customers and communities. CEMEX manufactures, distributes, and sells cement, ready-mix concrete, aggregates, and related building materials in over 50 countries, and maintains trade relationships in approximately 102 countries. CEMEX generates revenues of about 13 billion dollars annually.
Sand and freight demand for MCNO has increased by 34% in this circuit compared to last year. According to the estimate, the figures will increase throughout the year due to the expansion of the construction industry in the country. As the government’s INEGI statistics show, cement production was up by 16% in June.
In this contract, MCNO will supply recycled sand, which is sand that has been recovered from foundry residuals. Upon being revalued and processed, these residuals are then used as raw material, thereby giving the resulting product a high-quality. Thus, there is a reduced impact on the community’s health and on the environment.
MCNO’s contract formalization:
For over 15 years, Mucinno Holding (MCNO) has become a preferred supplier of silica sand to CEMEX, leading first to the formation of circuits and then contracts for raw materials supply. As a result, MCNO has now formalized the supply with a contract, especially with a company of such renown as CEMEX.