SOURCE: Cotton & Western Mining, Inc.

April 07, 2010 09:00 ET

CWRN: "PanaMax Bulk Iron Ore Projected at $11,895,000.00 on CFR Basis"

HOUSTON, TX--(Marketwire - April 7, 2010) -  Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) -- Robert L. Cotton, President of Cotton & Western Mining, Inc. announced today that the company will opt out of signing annual fixed priced contracts in favor of China Seaborne Trade Spot Sales for the first six (6) months of crude iron ore production at the Baja Pacific Iron Mineral Mining Project in order to retire the initial capital funding at the earliest date. The decision was made based on recent price increases on "Spot Sales" as Tuesday's price settled on the up-side at $158.60 per Dry Metric Ton delivered "CFR Basis" the Port of Qingdao, The People's Republic of China. PanaMax bulk cargo vessels generally are loaded out at 75,000,000 metric tons depending on port draft, recently the Pacific Ocean Port of Ensenada, Baja California, Mexico completed its dredging program and the Access Channel, Turning Basin and Berths are now 15 meters deep. The company anticipates iron ore production within the next few months. 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 is very high.

Related News: The Spot Price China Seaborne Trade remains strong as reported on Tuesday, April 6th, 2010 at CFR $158.60 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) 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 Information

  • Contact:
    Cotton & Western Mining, Inc.
    363 North Sam Houston Parkway East
    Suite 1100
    Houston, Texas 77060 USA
    www.cottonwestern.com
    +1(281)820-7815