CWRN: London Investor Given Serious Consideration for Baja Iron Project
10 June 2009 - 11:45PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) announced
today that the company's Hong Kong credit facility through IBC
Strategic is still in place; however, Robert L. Cotton, President
& C.E.O., stated that, "Chinese investors are sitting on the
fence waiting and watching the market. It is imperative that the
company opens production this year in Baja, so we have opened
negotiations with a London Group who has a strong interest in
financing the Baja Iron Mining Project. Initial terms and
conditions of a Debt & Equity Loan have been presented to CWRN,
with the main reference points being a percentage of ownership in
our Mexican subsidiary, Pan American Minerals Ventures, S.A. de
C.V., together with a yet to be determined affiliate block of CWRN
common shares." The company is authorized 6,000,000,000 common
shares and two affiliates, Pan American Mineral Ventures, LLC,
(Nevada) and Emily Cotton of Houston hold just over 5,000,000,000
restricted shares with the free trading share count currently
standing near 300,000,000 shares. The Board of Directors will meet
on June 20, 2009 to review and discuss the London Investor's
options for the financing of the Baja Iron Mining Project.
Current FOB annual contract pricing is $45.00 per each Dry
Metric Ton (DMT) shipped while one-off Spot Sales are nearing
$68.00 CIF in main China ports. Cotton & Western is expected to
open production at 52,000 DMT per month, which will be shipped from
the Pacific Ocean Port of Ensenada, Baja California, Mexico.
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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