Cotton & Western Mining Inc (fka CWRN)

[djmanslick]

HOUSTON, TX -- (Marketwire) -- 07/27/09 -- Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) -- China Hua Dong Corp Limited issued its letter of Intent (LOI) to CWRN on July 23, 2009 for 624,000 Dry Metric Tons (DMT) of the company's Baja Pacific Magnetite Iron Ore, for 2010 delivery beginning in January 2010. The 2010 annual fixed contract prices have not been set and the company will negotiate the price per unit in December 2009. The current FOB value of the cargo at $45.00 per DMT would be approximately $28,080,000.00; however, recent increase prices in the China seaborne iron ore trade has improved and market indicators are optimistic that the 2010 annual fixed contract prices will be substantially higher than current values.