CWRN: "Rate Fixed; Iron Cargo to Sail in March"
28 Februar 2011 - 2:30PM
Marketwired
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) revealed today
that due to the recent escalation in fuel cost a fixed rate for
China Seaborne Iron Ore has been agreed to. The recent rise in
Ocean Freight was the direct result of civil unrest in oil
producing countries, resulting in an increase of $12.00 per metric
ton in the last ten days. Panamanian Flagged MV AZUMA PHOENIX (or
substitute) is scheduled to dock at the Ensenada International
Terminal on March 17th, 2011. Management stated today that the
seasonal rains have been relatively mild this year and that to date
only eight days of production was lost due to inclement weather.
The Baja Pacific Iron Mineral Mining Operations have now moved into
continuous operations for Extraction, Processing, Grading,
Trucking, Port Stockpiling and Shipping.
Pending Issues:
Pink OTC Markets: "Caveat Emptor symbol." CWRN Management has
been vigorously working on clearing the CE issue, and expects it to
be resolved before the end of March 2011. Our attorneys are
diligently working on the matter by following the OTC Markets
guidelines. We reiterate that Cotton & Western Mining, Inc. has
not promoted its shares, and feel the value of our company will
ultimately be realized in the near future by the market.
The Rumor Mill / New Iron Mineral Deposits and
Buyout and Buy-in Proposals:
Due to the constant internet chatter, phone calls and electronic
mails asking the Company about a large new iron mineral project,
and if we have received an buyout offer; management has decided to
disclose to the public that it has paid $30,000.00 in mineral taxes
on the 21,000 hectare (52,500 acres) "Mina Nazarena" as part of its
contribution in a Consortium Group that is planning to develop the
large iron mineral deposit within year 2011. The CWRN Team will be
responsible for development and operations of the project. The
mineral concession is located in south central Baja California,
approximately 80 kilometers from the Sea of Cortez and 50
kilometers from the Pacific Ocean. The highlight of the project is
a 14 kilometer (8.75 miles) long magnetite strike. The Company will
begin exploration within the next few weeks. The estimated size of
the ore bodies has not been confirmed; however, it is believed to
be one of largest in Baja California if not the largest. The
Company is also reviewing its options on two other iron mineral
concessions located outside of Baja, pending the investment
strategy of its U.S. investors which have indicated to management,
that they are willing to go the distance on larger iron mineral
projects.
Cotton & Western Mining, Inc. U.S.A. has received an
unsolicited Buyout or Buy-in offer from a U.S. private investment
firm for all outstanding and issued shares for $0.15 cents per
share. We have decided to decline the offer for our shareholders,
as we feel it does not represent the true value we envisioned;
however, if a future offer is accepted, all shareholders will be
updated at the proper time.
Buy Back Program:
As stated in a previous News Release, the Company will begin a
"Market Share" buyback program of CWRN common free trading shares
on a per shipment basis.
Notes: The Baja Pacific -- "Mina
Guadalupe" is operated by Panamerican Minerals Ventures, S.A. de
C.V., Ensenada, Baja California, under contract with CWRN and held
in trust for CWRN by its principal officers and directors, Robert
L. Cotton and Sharon Vazquez.
A collection of photographs posted on a U-Tube video by an
unknown party, has recently come to our attention and it reflects
the progress of the Baja Pacific Mining Project from day one
through stockpiling finished products at the Port of Ensenada,
interested parties may view the collection at:
http://www.youtube.com/watch?v=BxcFCjKd7OU; thanks to whoever put
it together.
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. (PINKSHEETS: CWRN) is 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.
Cotton & Western Mining, Inc. +1 713 482 7593
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