SOURCE: Cotton & Western Mining, Inc.

January 24, 2008 09:45 ET

Cotton & Western Mining, Inc. -- CWRM May Sell 50% of Iron Ore Production at Spot Price

HOUSTON, TX--(Marketwire - January 24, 2008) - Cotton & Western Mining, Inc. (PINKSHEETS: CWRM) may sell as much as 50 percent of the Baja California iron ore production at spot prices, which are currently at record highs. Year 2008 annual fixed-price contract negotiations are currently in progress with producers of the steelmaking raw material. Robert L. Cotton, President & C.E.O. of Houston-based Cotton & Western Mining, said today, that the company is expecting to get at minimum six months production from its Baja California new iron ore production and is negotiating with its investment partner to guarantee only 50 percent of the estimated 150,000 Dry Metric Ton per month production; this would free up one Panamax shipment per month for spot sales which is expected to be between $180 to $190 a ton, rather than the $62 a ton paid under FOB fixed-price annual contract.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

  • Contact:
    Cotton & Western Mining, Inc.
    363 North Sam Houston Parkway East
    Suite 1100
    Houston, Texas 77060 USA