CWRN: "Crude Iron Ore Spot Prices on CFR Basis Remain Strong $177.42"
27 April 2010 - 9:30PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) -- Robert L.
Cotton, President of Cotton & Western Mining, Inc., announced
today that the company is expected to begin operations at the Baja
Pacific Mining Project before the end of May 2010. The company was
asked to make a specification shipment of crude iron ore in lump
for mill procedures prior to starting full production. The company
shall offer to the China Seaborne Trade Spot Sales (Single Shipment
Contracts) its first six (6) months of crude iron ore production at
the Baja Pacific Iron Mineral Mining Project. "Spot Sales" Monday's
price settled at $177.42 per Dry Metric Ton delivered "CFR Basis"
the Port of Qingdao, The People's Republic of China, near $20.00
higher per dry metric ton over the past two weeks. Bulk shipments
will be loaded out at the Pacific Ocean Port of Ensenada, Baja
California, Mexico. At current prices, a single Panamax bulk cargo
(75k/dmt) shipment would be approximately $13,000,000.00. 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 remains
very high.
Related News: The Spot Crude Iron Ore
Price for the China Seaborne Trade remains strong as reported on
Monday, April 26th, 2010 at CFR $177.42 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) is 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
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