CWRN: "PanaMax Bulk Iron Ore Projected at $11,895,000.00 on CFR Basis"
07 Avril 2010 - 3:00PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) -- Robert L.
Cotton, President of Cotton & Western Mining, Inc. announced
today that the company will opt out of signing annual fixed priced
contracts in favor of China Seaborne Trade Spot Sales for the first
six (6) months of crude iron ore production at the Baja Pacific
Iron Mineral Mining Project in order to retire the initial capital
funding at the earliest date. The decision was made based on recent
price increases on "Spot Sales" as Tuesday's price settled on the
up-side at $158.60 per Dry Metric Ton delivered "CFR Basis" the
Port of Qingdao, The People's Republic of China. PanaMax bulk cargo
vessels generally are loaded out at 75,000,000 metric tons
depending on port draft, recently the Pacific Ocean Port of
Ensenada, Baja California, Mexico completed its dredging program
and the Access Channel, Turning Basin and Berths are now 15 meters
deep. The company anticipates iron ore production within the next
few months. Pan American Minerals Ventures, S.A. de C.V. a Joint
Venture Company shall be the operating company for the Baja Pacific
Iron Ore Mining Project. The Company's website is currently
receiving several requests daily for Iron Ore as the demand for
Spot Sales is very high.
Related News: The Spot Price China
Seaborne Trade remains strong as reported on Tuesday, April 6th,
2010 at CFR $158.60 per dry metric ton Port of Qingdao. Daily index
prices may be viewed at the Metal Bulletin link below.
Metal Bulletin Iron Ore Index Link
http://www.mbironoreindex.com/
About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) a Nevada
Corporation that is engaged in metal mineral exploration,
development and operations of "Iron Mineral Mining." For more
information, please visit the company's website at
www.cottonwestern.com.
Safe Harbor: Statements regarding financial matters in this
press release other than historical facts are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, technology efficacy and all other forward-looking
statements be subject to the Safe Harbors created thereby. The
Company is a development stage firm that continues to be dependent
upon outside capital to sustain its existence. Since these
statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results.
Contact: Cotton & Western Mining, Inc. 363 North Sam Houston
Parkway East Suite 1100 Houston, Texas 77060 USA
www.cottonwestern.com +1(281)820-7815
Cotton and Western Mining (GM) (USOTC:CWRN)
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