Midas

Midas: Secures a Rmb62m contract from CNR Changchun for Shanghai's Metro Line. Co will supply aluminium alloy extrusion profiles for 41 train sets (246 train cars) from 2011 to 2013. Share price has seen a drop since breaking resistance at $0.92 in Feb when China’s railway minister was sacked for suspected corruption. Co now trades at fwd P/E 11.8x vs hist avg of 24x but counter is in firm downward trend. See nxt long-term support at $0.54 level.