CWRN: "Qin Hai Sails with 43.8k/mt Iron Ore for Bao Steel"
LAS VEGAS, June 25, 2012 /PRNewswire/ -- Cotton & Western Mining, Inc. (OTC/Pinksheets: CWRN) -- The Qin Hai Bulk Cargo Vessel sailed out of the Pacific Ocean Port of Ensenada, Baja California, Mexico on June 13, 2012, with a full maximum load 43,829 WMT of Raw Crude Iron Ore sized 1-10mm under contract with Bao Steel. 45,000 WMT remains stockpiled at the port pending dispute resolution with the Mexican Authorities over time lapse in customs. The company began trucking on Oct 24, 2011 through Nov 11, 2011 for a shipping date of Dec 21, 2011; during the month of December, 2011, all iron ore export permits were canceled country wide, and new export regulations became effective overnight. The new iron ore export regulations not only required an iron ore export permit from the Secretary of Economy, but also included a Customs iron ore exporters listing; this entailed a series of Government audits, from the Tax Office, Mining Office, Environmental Agency and from Customs if the company had any prior exports of Iron Ore. Panamerican Minerals Ventures, S.A. de C.V., the Mexico Iron Mining Operator, begin the process of re-qualification to meet the stringent and rigorous new regulations. The Company received the new Secretary of Economy Export Permit in January 2012; however, the audits and other time consuming efforts for Customs listing resulted in the Company becoming one of only a few mining companies authorized to export iron ore from Mexico, on March 6, 2012.
Company News: On June 7, 2012 Robert L. Cotton, resigned as the President of Cotton & Western Mining, Inc. On June 8 2012, Shirley Lee became the new President of the Company. Ms. Lee was formerly a mine owner and operator and was with another company involved in mining and commodity trading. Ms. Lee is very knowledgeable in International Trade and will be of great value to the Company operations. The Company will be applying to NASDAQ for a name change to Pan American Mineral Ventures, Inc. to better reflect is current Mexico mining operations.
Change of Address:
Cotton & Western Mining, Inc.
1406 Santa Margarita Street
Las Vegas, Nevada 89146
Ph: + 1 718 666 3820
Mining Update: Production at the Guadalupe Mining Concession Continues with emphasis on 1-10mm raw crude iron ore products; together, with screening of Sinter Fines from the under sizes of pervious production in form of 0.5-1mm, materials less the 0.5mm will be a by-product for Organic Mineral Fertilizer.
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 affiliate Panamerican Minerals Ventures, S.A. de C.V., Ensenada, Baja California, Mexico.
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.
Cotton & Western Mining, Inc.
+1 718 666 3820
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