CWRN: Cotton & Western Mining, Inc. Projects Baja NO. 14 Iron Ore Reserves of 6.5 Million Metric Tons
28 April 2009 - 11:15PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) announced
today that the Company's Baja NO. 14 site has a projected, useable
iron ore reserve of just over 6.5 million Metric Tons. Cotton &
Western has done geological surveys on most of their properties,
and have made some of the information available on their website,
www.cottonwestern.com.
Cotton & Western Mining previously estimated that it would
be able to produce approximately 2.8 million dry metric tons of ore
for transport to Chinese steel manufacturers. The geological
samples confirm that the Baja NO. 14 site alone could sustain that
production for at least two to three years.
"Now that we've been fortunate enough to establish a set price
for our iron ore, we are in a great position to determine our
financial projections for this year. Our geologists are confident
that Baja NO. 14 is the best iron deposit of our properties, but we
have several other promising magnetite deposits and we look forward
to sharing more on those very soon," stated Bob Cotton, CEO of
Cotton & Western Mining, Inc.
Cotton & Western Mining has recently announced that it has
set an agreed base price of $45.00 FOB Mexico, per each dry metric
ton sold on a guaranteed 64.5% Fe (iron content) with bonus payment
of $0.6976 for each 1% Fe content above the minimum contract
specifications. The average Fe content as tested in 2008 for Baja
NO. 14 is 67% Fe content. CWRN fully expects to conclude the
project financing package with a Chinese Steel Mill within this
year. China Seaborne Trade continues to improve; however, the
market remains cautious as reports on economic indicators raise
expectations that the world economy is starting to recover.
About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) was founded
in early 2005 as a Nevada Corporation by Robert L. Cotton, with a
specific plan and goal in mind; that being, to operate a low cost
and high profit junior "Iron Mineral Mining" company. Cotton &
Western Mining's mission is to offer reliable, high-quality and
cost effective raw materials to the steel manufacturing industry on
a global scale. The current pricing situation is at an all time
high, with strong demand for raw materials coming from the People's
Republic of China and it is expected to remain strong for several
years ahead. 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: e-media Direct, Inc. Investor Relations (866) 284-2835
info@e-mediadirect.com
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