CWRN: "Baja Iron Ore Mining Project Status, Spot Sales at $142.00/DMT"
07 June 2010 - 9:30PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) Robert L.
Cotton, President of Cotton & Western Mining, Inc., stated
today that the company is working on the land-usage permits for all
four ore bodies. The main mining project will start on the north
side of Baja no. 14 (230 hectare concession) utilizing a total of
21 hectares; however, the two ore bodies on the south side (across
the river) of the concession will also be permitted, utilizing 14
hectares and the land-usage for Baja no. 4 (100 hectare concession)
will utilize a total of 18 hectares. The company will take out
approximately 5,000 metric tons for 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" Friday's price settled at $142.18 per Dry
Metric Ton delivered "CFR Basis" the Port of Qingdao, The People's
Republic of China. Bulk shipments will be loaded out at the Pacific
Ocean Port of Ensenada, Baja California, Mexico. 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.
Related News: The Spot Crude Iron Ore
Price for the China Seaborne Trade as reported on Friday, June 4th,
2010 at CFR $142.18 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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