CWRN: Cotton & Western Mining, Inc. Projects Additional One Million Metric Tons of Usable Iron Ore From Baja NO. 4
05 May 2009 - 11:45PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) announced
today that the Company's Baja NO. 4 site has a projected, useable
iron ore reserve of just over 1.02 million Metric Tons. Cotton
& Western has done geological surveys of all of their
properties, and have made some of the information available on
their website, www.cottonwestern.com.
The additional one million metric tons of ore from the Baja NO.
4 site will supplement the ore being produced by the larger Baja
NO. 14 site. Cotton & Western Mining conservatively estimates
usable iron ore from Baja NO. 4 and 14 to be in the 7.5 to 8
million dry metric ton range.
"As we continue to move forward with the analysis and
development of our mines, we are confident in our capability to
meet the increasing demands of the growing Asian iron ore market.
Our growing iron ore reserves will allow us to capitalize on our
negotiated price and raises confidence in our ability to achieve
our business goals," stated Bob Cotton, CEO of Cotton & Western
Mining, Inc.
Cotton & Western Mining recently projected revenues in
excess of $126 Million based on 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.
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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