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>> Jun 04 2012 SEC Charges Company Officers and Penny Stock Promoters in Kickback and Market Manipulation Schemes >> APRIL 13 2012~ WIDE AREA DRILLING UNDERWAY http://ih.advfn.com/p.php?pid=nmona&article=51995577 >> Nov 17 2011 Iron Ore Market Up 3rd Shipment Contract To Be Executed Quote:
CWRN The resent down trend in Spot Pricing for the China Sea Borne Trade for Iron Ore caused some companies to hold off on shipping, (including CWRN) this lead to a reduction in immediate raw material stocks for some steel makers. Over the last 12 consecutive trading days, the market has rebounded and some Iron Ore Sellers are now executing sales contracts. The Company has been trucking materials to the Pacific Ocean Port of Ensenada, Baja California, Mexico and has stepped up trucking by adding more trucks. The Company sells Raw Crude Iron Ore based on the Platt's Steel Index at landing on a 6 day average price, 3 days prior and 3 days after landing with a negotiated discount off Spot Pricing. It is anticipated that the landing price will be somewhat higher than the contract signing day Spot Market Price.
Shipping Update: Bulk vessel shipping Cost is expected to be $9.00 cheaper per wet metric ton than the August Shipment Cost, the Company is now in the market for the 3rd shipment dry bulk carrier in the HandyMax size range, 40 to 45 thousand metric tons.
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
-A/S: 6 Bil -Current O/S: 4,361,635,980 Bil -Restricted: 2,056,610,879 Bil -Free Trading Float: 2,305,025,101 Bil
>> Sept 29 2011 Remedial Drilling Underway at Mina Guadalupe Quote:
CWRN Management stated today that the original drilling program consisted of 68 shallow drill holes into the Guadalupe iron ore bodies; 66 of the 68 drilled holes contained iron ore lenses varying in thickness from 2 to 14 meters thick. The deepest drilled hole was 20 meters in depth. The last shipment of iron ore and the current stockpiles of finished products have all come from a small section of the 1,500 meters long Coloso Vein (one of four long iron ore veins on the mineral concession) and 26 meters of overburden and iron ore have been extracted out of the section. Currently the company has begun a remedial drilling program to extend the drilling depth to a minimum of 25 meters under the previously discovered iron ore lenses and up to 100 meters deep should the ore body continue at greater depth. In the first of a series of mini drilling programs, four drill sites were chosen approximately 300 meters apart along the 275 degree Northwest Coloso strike in areas of confirmed heavy ore bodies. The results of the program will be made available to our shareholders and the general public upon completion.
Shipping Update: Bulk vessel shipping is currently on hold, pending the evaluation of cost savings on shipment size. The first two shipments of Guadalupe raw crude iron ore were delivered via HandyMax at 38,500 and 36,000 dry metric tons of ore, the latter shipment ended at a cost of $43.00 per wet metric ton of product. Shipping cost has recently decreased, primarily on larger capacity vessels; therefore, Management has asked the John F. Dillon & Company, LLC., to assist in finding and negotiating the best Seaborne dry bulk freight rates available. A decision will be make within the next couple weeks to either ship numbers 3 and 4 separately in HandyMax or combine the two shipments into a SuperMax at 58,000 WMT or a PanaMax at 70-75,000 WMT shipment.
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.
-A/S: 6 Bil -Current O/S: 4,361,635,980 Bil -Restricted: 2,056,610,879 Bil -Free Trading Float: 2,305,025,101 Bil
Aug 8th 2011 Loreto Sailing with 2nd Bulk Iron Ore Shipment Quote:
Due to the river draft at the Port of Jiangyin on the Yangtze River, some 750 metric tons of iron ore was removed from the MV Loreto Bulk Vessel.. Remaining ore on the dock will go out on the next shipment. Here is a site with some good pictures in and around the City and river port: The Loreto is a 45k/mt carrier, it was chosen for its width and shallow draft only 36,000 metric tons can be offloaded there, the final draft survey was 36,002 mt.
http://ports.com/china/port-of-jiangyin/photos/#/show-gallery?o=photo-0
Loreto pulled out at 6:00am PST this morning and is scheduled to arrive on Aug 27 at 18:00 hours.
Operations Update: The Company will now begin preparations of its stockpiled 1-3mm Sinter Feedstock Fines for the 3rd shipment of iron ore to China this year, anticipated sailing between the 10th and 15th of September, 2011.
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.
-A/S: 6 Bil -Current O/S: 4,361,635,980 Bil -Restricted: 2,056,610,879 Bil -Free Trading Float: 2,305,025,101 Bil
" " The loading of the vessel went very smooth requiring only one move due to scheduled container vessels. Below is the load-out break down; All shipping documents have been completed, the last document required to draw down the Domumentary Letter of Credit is the product analysis, which will require about two weeks.... Next shipment will be 1-3mm sinter feedstock fines...... Bob " "
June 30 2011 "Trucking for 2nd Bulk Iron Ore Shipment Underway" Quote: ( This News did not appear on ihubs Newstream)
PanAmMex dispatched Road Runner Trucking on June 29th, 2011 for the heavy haul trucking of processed iron minerals to the Ensenada International Terminal, Baja California, Mexico on the Pacific Ocean. An anticipated load-out date of July 26, 2011 has been set with the execution of a bulk cargo vessel fixture note. The Company will be shipping two grades of raw crude iron ore and two sizes, 1-3mm fines and 3-18mm mixed fines and lump ores in five cargo vessel holds.
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.
" " " Note: Pan American Mineral Ventures, LLC. Officers, Directors, Insiders and Affiliates control over 50% of the Company's Outstanding Shares, Robert L. Cotton and Sharon Vazquez are co-managers of Pan American Mineral Ventures, LLC., State of Nevada, both are Officers and Directors of CWRN.
OTC:PK Status: CWRN is no longer a developing company and as such the non-reporting SEC status in not desirable to maintain a healthy share value for the shareholders; therefore, the Board of Directors have agreed to move on. The company will be merging into a new mining company that will be involved with several other iron ore mining projects and will be an SEC reporting company listed on the OTC:QB; this process shall take some time and will require shareholder's voting approval. A Shareholders meeting will be held, all shareholders of record will be given a 45 day written notice of the time and place of the meeting. A news release will also be issued with the Shareholders notice.
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