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Cotton & Western Mining, Inc. -- CWRM Projects 2008 Revenues to Exceed $100 Million
HOUSTON, TX, Feb 01, 2008 (MARKET WIRE via COMTEX) -- Cotton & Western Mining, Inc. (PINKSHEETS: CWRM), Robert L. Cotton, President & C.E.O. of Houston-based Cotton & Western Mining, said today that the company is expecting to get at minimum six months production from its Baja California new iron and copper ore production in year 2008 and with metal mineral prices at all time highs, only 60,000 dry metric tons of copper ore and 900,000 dry metric tons of iron ores would be needed to exceed $100,000,000.00 in gross revenues.
The company anticipates production of crude iron and crude copper ore to begin no later than June, 2008 with modest expectations for production of ores.
The company has received several offers within the last few weeks for off-take agreements for both the iron ore and copper ore production from its Baja Pacific No. 5 mineral deposit. Bench mark pricing for the first quarter of 2008 for raw crude iron ore in fines at minimum 64.5% Fe is $62.00 F.O.B. per each dry metric ton and bench mark pricing for the first quarter of 2008 for raw crude copper ore in lump at minimum 28% Cu is $1,350.00 C.I.F. per each dry metric ton. The company is planning on setting up production of copper ore at 10,000 DMT per month and production for iron ore fines will be set at 150,000 DMT per month.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Cotton & Western Mining, Inc.
363 North Sam Houston Parkway East
Suite 1100
Houston, Texas 77060 USA
www.cottonwestern.com
+1(281)820-7815
