Many PR's referred to the 1st 2 ships-spot at time

Many PR's referred to the 1st 2 ships-spot at time of 1st ship was 175-192, spot at time of 2nd ship was 170. Its too late to go back and undo these sales as much as some try. Its too late to take CWRN back to preproduction,prevenue and pre-net income.

From a look at these PR's its obvious the net income from these ships was millions per ship.
The ca 10 million estimated net profit /date can easily be seen in the many millions in ongoing equipment purchases.

Since only 30% of 1st ship net paid off millions in investor debt etc this is also confirmation of the market price of iron at time of these ships.

Re dist of revenues from 1st ship Kriton

May 26 2011 "Revenues Distributed, 2nd Bulk Shipment Close"

Quote: 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.'


Importantly they bought major screening equipment to enable processing of the 1-3mm ore,
paid off 75% of investors cash contributions w only 30% of the revenue-so that confirms large revenue because those cash contributions were in the millions
,management received 10% to go towards ca 2 million they had advanced towards the project, but 60% went to operations. They also reportedly acquired previous 68 drill hole reports at this time-which led to the Coloso etc veins