CWRN: “Iron Ore Market Up 3rd Shipment Contract To Be Executed”
HOUSTON, Nov. 17, 2011 /PRNewswire/ — Cotton & Western Mining, Inc. (OTC/Pinksheets: CWRN) The resent down trend in Spot Pricing for the China Sea Borne Trade for Iron Ore caused some companies to hold off on shipping, (including CWRN) this lead to a reduction in immediate raw material stocks for some steel makers. Over the last 12 consecutive trading days, the market has rebounded and some Iron Ore Sellers are now executing sales contracts. The Company has been trucking materials to the Pacific Ocean Port of Ensenada, Baja California, Mexico and has stepped up trucking by adding more trucks. The Company sells Raw Crude Iron Ore based on the Platt’s Steel Index at landing on a 6 day average price, 3 days prior and 3 days after landing with a negotiated discount off Spot Pricing. It is anticipated that the landing price will be somewhat higher than the contract signing day Spot Market Price.
Shipping Update: Bulk vessel shipping Cost is expected to be $9.00 cheaper per wet metric ton than the August Shipment Cost, the Company is now in the market for the 3rd shipment dry bulk carrier in the HandyMax size range, 40 to 45 thousand metric tons.
CWRN Current Share Structure: The Company has stated that it is not currently providing any Market Awareness nor is it involved with the market in any way. The share price of the Company’s stock is solely dictated by the market further to that the share structure has not changed since year 2010, nor does the company intend to participate in any trade programs designed to offer company shares.
Authorized Shares: 6,000,000,000
Outstanding Shares: 4,361,635,980
Restricted Shares: 2,056,610,879
Free Trading Shares: 2,305,025,101
Notes: The Baja Pacific No. 14 – “Mina Guadalupe” is operated by Panamerican Minerals Ventures, S.A. de C.V., Ensenada, Baja California, Mexico.
Related News: China Seaborne Trade, Spot Price Iron Ore may be viewed at the following link;
Metal Bulletin Iron Ore Index Link http://www.mbironoreindex.com/
About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (Pink Sheets: CWRN) a Nevada Corporation that is engaged in metal mineral exploration, development and operations for “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.
Investor Relations Director Emily Cotton firstname.lastname@example.org +1 713 482 7593
SOURCE Cotton & Western Mining, Inc.