CWRN: London Investor Seeks Early Closing Date for Baja Iron Project
17 June 2009 - 11:45PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) announced
today that its London Investor has asked for a fast-track closing
date for the debt & equity loan offer that is to be used for
the start-up of CWRN's Baja Iron Ore Mining Project. Robert L.
Cotton, President of CWRN says that he would hope to have all the
terms and conditions (as stated the company's June 10, 2009 news
release) agreed upon by the end of June with contract execution
attentively set for mid July, 2009. Cotton further stated that the
company has seen a recent surge in buyer inquiries for its Baja
Magnetite, coupled with a recent boost in investor confidence as
witnessed by a rise in the company's share price and daily trading
volumes. Cotton says this all seems to come about the same time as
Goldman Sachs JBWere projects a 10 percent increase in iron ore
prices as Chinese Seaborne Trade rises. Read Goldman Sachs
projections at: http://money.ninemsn.com.au/article.aspx?id=824879
Current FOB annual contract pricing is $45.00 per each Dry
Metric Ton (DMT) shipped while one-off Spot Sales now at $76.50 CIF
in main China ports on base Fe content of 62%. 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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