direct from market wired since the board info is n
Post# of 8059
Posted On: 10/26/2014 7:39:48 PM
direct from market wired since the board info is not working properly -syntax errors whatever
May 26, 2011 08:30 ET
CWRN: "Revenues Distributed, 2nd Bulk Shipment Close"
HOUSTON, TX--(Marketwire - May 26, 2011) - Cotton & Western Mining, Inc. (PINKSHEETS: CWRN), the company under Irrevocable Assignment of Documentary Letter of Credit Proceeds, distributed the revenues from its first bulk shipment of iron ore under the following percentages; 60% to ongoing operations, 30% to Project Investors and 10% to Management. The Project Investors recovered approximately 75% of their cash contributions; The Ensenada International Terminal was paid approximately $320,000.00 for receiving, storage, material handling and cargo loading, $356,000.00 was paid to Road-Runner Trucking, $1,115,000.00 was paid to COSFAR Bulk Cargo Shipping, $220,000.00 was paid in royalty fees and surface rights. The Company was also able to meet its obligations to PowerScreen of California paying a balance of $975,000.00 for the crushing equipment. We would like to thank PowerScreen for their ability to provide us with over $1,500,000.00 in equipment that was paid off under settlement of DLC proceeds, without their help it would have been very difficult to secure the equipment we had specified for the production. The Company will be receiving more equipment from PowerScreen shortly.
Operations Update: The Company has been continuously excavating, crushing and processing raw crude iron ore since the first shipment departed the Pacific Ocean Port of Ensenada, Baja California, Mexico on April the second, 2011. Currently 3-18mm and 1-3mm iron ore is being processed and stored at the Company's on site Lay-down Yard, trucking to the port is scheduled to re-start within the next couple weeks, with more trucks than we used on the first shipment. As of this date, no Fixture Note has been signed with any bulk cargo shipper, we have yet to determine a vessel size for the next shipments depending on grades and sizes, it is most likely to be a mixed shipment of +61% and -61% Fe on a sliding scale basis reject less than 56% and guarantee at 58% for lower grade and reject less than 58% and
May 26, 2011 08:30 ET
CWRN: "Revenues Distributed, 2nd Bulk Shipment Close"
HOUSTON, TX--(Marketwire - May 26, 2011) - Cotton & Western Mining, Inc. (PINKSHEETS: CWRN), the company under Irrevocable Assignment of Documentary Letter of Credit Proceeds, distributed the revenues from its first bulk shipment of iron ore under the following percentages; 60% to ongoing operations, 30% to Project Investors and 10% to Management. The Project Investors recovered approximately 75% of their cash contributions; The Ensenada International Terminal was paid approximately $320,000.00 for receiving, storage, material handling and cargo loading, $356,000.00 was paid to Road-Runner Trucking, $1,115,000.00 was paid to COSFAR Bulk Cargo Shipping, $220,000.00 was paid in royalty fees and surface rights. The Company was also able to meet its obligations to PowerScreen of California paying a balance of $975,000.00 for the crushing equipment. We would like to thank PowerScreen for their ability to provide us with over $1,500,000.00 in equipment that was paid off under settlement of DLC proceeds, without their help it would have been very difficult to secure the equipment we had specified for the production. The Company will be receiving more equipment from PowerScreen shortly.
Operations Update: The Company has been continuously excavating, crushing and processing raw crude iron ore since the first shipment departed the Pacific Ocean Port of Ensenada, Baja California, Mexico on April the second, 2011. Currently 3-18mm and 1-3mm iron ore is being processed and stored at the Company's on site Lay-down Yard, trucking to the port is scheduled to re-start within the next couple weeks, with more trucks than we used on the first shipment. As of this date, no Fixture Note has been signed with any bulk cargo shipper, we have yet to determine a vessel size for the next shipments depending on grades and sizes, it is most likely to be a mixed shipment of +61% and -61% Fe on a sliding scale basis reject less than 56% and guarantee at 58% for lower grade and reject less than 58% and
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