updated 2/10/2011 9:16:53 AM ET 2011-02-10T14:16:53

LOS ANGELES, Feb. 10, 2011 (GLOBE NEWSWIRE) -- EquityNet Research, an independent West Coast equity research firm based in Los Angeles, announced today that it has initiated research coverage on U.S. China Mining Group, Inc. (OTCBB:SGZH).

A full copy of the report and disclosure requirements are available at EquityNet Research's Web site: www.equitynet.net

U.S. China Mining is an acquirer and consolidator of coal mines in Heilongjiang Province in China's coal-rich northeast region. The Company has issued revenue and earnings guidance of approximately $66.5 million and $14.1 million, respectively, for the 2010 fiscal year ending December 31, 2010.

Randy Lewis, CFA, Founder and Senior Analyst with EquityNet who is covering the Company, stated, "China's coal industry is very fragmented and, as most industry observers agree, in need of consolidation. Last year, the Chinese central government stressed the need for the country's coal mine enterprises to continue with mergers and acquisitions for the healthy development of the industry, citing low centralization, wasting of resources, environmental pollution, disordered mining and frequent industrial accidents as continual challenges to China's coal mine industry.  We feel the Company is well positioned to capitalize on this trend."

About EquityNet Research

EquityNet Research was formed to provide the investing public with professional, independent, objective research on under-followed public companies. It does this by preparing detailed reports that highlight the key aspects of each company and its industry. EquityNet strictly maintains independence and objectivity according to the Standards of Professional Conduct of the CFA Institute (CFAI), and though is compensated for performing due diligence and creating reports, thus keeping its research free to the public, does not have extraneous relationships with its followed-companies nor has any present or future pecuniary benefit other than that disclosed for each company on its website. EquityNet was compensated $7,500 by Hanover Financial Services for the due diligence, preparation, and any updates for one year, of the SGZH report. EquityNet is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. 

The EquityNet Research logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7585

CONTACT: EquityNet Research
         Randy Lewis, CFA, MBA, Senior Analyst

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com