CWRN was set to ship Dec 21,2011 when Mex prematurely cancelled all iron permits nationwide-see 6-25-12PRand bingos posts etc- and required a new series of audits to catch illegal iron mines because Mex is literally so stupid they cant differentiate between the S mainland border wild west-which Mexico does not control!!!!! where illegal iron mines are -and baja etc---
thus to meet new requirements ore was at port over 90 days- CWRN already previously reported they got a 30 day extension to ship 2012 but it was cancelled just 15 minutes before ship fixture note signing-Mexico thus used its games to quarantine the ore and try to confiscate it to balance the national budget---1 of the suits referred to by the May 28 PR -thus no shipping after 6-25-12 until May 19 this year
CWRN planned on shipping fert etc Aug 2012 -see bingos posts-but several things happened-port continued its blockade,Mex pres elections July 2012 were appealed to Mex supreme court-thus freezing the govt and all permitting--and then cwrn discovered probably new rules treating fert as iron ore to block illegal mines
and then lameduck govt til Dec1 2012-too late to get a 2012 permit- and port continued blocking/holding Baos ore at port- until cwrn won a suit over the ore and thus shipped over 69k tons May 19 -----
SO SO SO under those circumstances Bao logically adopted a wait and see attitude until the govt games were over-I've explained these many times but have much evidence even longs dont read the posts or have a rudimentary understanding-if nobody is going to read the posts I'll stop wasting my time
April 13 2012 @ 8:30AM Wide Area Deep Drilling Underway
Cotton & Western Mining, Inc. CWRN , Panamerican Minerals Ventures, S.A. de C.V. Mexico, the operators of the " Guadalupe Iron Mineral Concession ," drilled three deep conformation holes 300 meters apart in the center line of the 1,500 meter long Coloso Iron Mineral Vein, (one of four major iron mineral veins located on the concession); the purpose of those drill-holes was to explore the depth of the Coloso Vein, since the original drill program of 68 holes was shallow at 20-meters depth. Drill-hole 69 at 44-meters revealed continuous iron minerals mixed Magnetite and Hematite down to an elevation point of 81-meters above sea level , where the drilling was suspended without punching through the iron minerals as the iron content became lower and the mineral became solid magnetite. Drill-hole 70 at 84-meters depth on the lower elevation of the concession revealed the same mineral structure as drill-hole 69, hitting iron mineral at 4-meters down and continuous to 84-meters where the drilling was suspended at 2-meters above sea level; the third Drill-hole number 71 at 54-meters depth revealed continuous magnetite as well, the drilling was suspended pending simulated concentration testing of the lower grade materials to better understand the percentage of Fe304 (Magnetite Iron Oxide) uplift that could be anticipated if the materials were processed through a series of beneficiations. Results from those analytical studies indicated that the iron minerals can be processed to a Grade-A iron mineral status. Management has been discussing the feasibility of building a concentration plant on site with the corporation of Bao Steel Group of China , provided that there is enough magnetite mineral reserve to justify the investment ; therefore, the company has begun a series of new and deeper drilled-holes on a wide-area bases to establish parameters for an accurate calculation of available mineral reserves. The company is continuously mining the near-surface iron minerals which require dry magnetic separation to achieve the clients specifications.
Other noteworthy news : the Company has contracted PowerScreen of California to build a heavy-duty 8ft x 30ft x 0.05mm cylindrical Trommel screening plant capable of screening out the small iron chips accumulated since the project went into production in November 2010. This equipment should be on-site and ready to begin processing a shipload of sinter fines within the next couple weeks. The balance of iron minerals less than 0.05mm in size shall be sold into the organic mineral fertilizer industry.
Source - Read More: http://investorshangout.com/board/60521/Cotto...z2a4cO0rFO
