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Cotton & Western Mining, Inc. (CWRN.PK) Gains On News

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JohnCM   Thursday, 09/03/20 08:21:24 AM
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Cotton & Western Mining, Inc. (CWRN.PK) Gains On News

PinkInvesting

CWRN chart.pngCotton & Western Mining, Inc. (PINK:CWRN) surged up 20% to $0.0275 on a 40 million share volume which is much lower than the average value. The low volume of CWRN was prevailing in February – a tendency which wasn't stopped by the news issued just before yesterday's session.

The value of CWRN stock was favorably influenced by the announced stipulation of fixed rates for Chinese overseas transportation. In addition, the company also said that a ship named Azuma Phoenix would pick up their iron ore stockpiles on March 17.

Rumors about the coveted iron stockpiles had spread all over the Internet since last month, some of which doubted if they exist at all, while others claimed they were already piled at Ensenada International Terminal. Since the rumors started, however, the stock value rose by around 35% which tips the balance to the believers.

CWRN seems to have entered a period of side trend after two months of turbulent action on the market. The gaze of investors is now fixed on the moment of breaking the resistance or support of the channel.

Whether the exciting times for CWRN are over or yet to come, will become visible most likely as more significant news arrive about the company. Hopefully, one of the news will be the clearing of the caveat emptor sign, which CWRN promised to resolve as soon as possible, but so far hasn't made any progress towards it.



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