From their previous filings Bob was tapped out-having,according yo those filings,spent 1.6 million dollars as of the last such filing 9-09-not all on this venture but also on a previous Mexican iron mine project-see the website,and there was only a recorded expenditure of ca 15000/quarter.
Then as I noted and people can see from the press releases the last few months there is suddenly a flurry of activity-after months of PR'S focused merely on the spot price of iron etc.
Apparently the private investor wishes to remain anonymous for now or they would have released that info-there are legitimate business reasons for the investors anonymity at this stage.
I read scores of news sources/week but back in June from one of those sources I read about CWRN's negotiations w an investor. Whether those negotiations were fruitful I don't know but Bob told my best friend-whom he spoke with and also traded emails w several times-and who got me into this crazy penny game(because nobody could find blue chips seriously advancing in this great recession)that he was looking for investors. That was prior to June.
My friend is a big contractor himself having built huge distribution centers etc for a major chain. Bob invited my friend to come visit the site and of course has invited interested shareholders to come see the site a couple times in the last year. My friend had good communication w and believes in and trusts Bob. My friends brother lives in Southern Calif but also has a place in Mexico,and advised my friend not to go because there was a raft of kidnappings of rich Americans for ransom-so my friend didn't go. I don't think his brother realized that CWRN would have security and I don't think the relatively isolated CWRN mining concession would be affected,but he erred on the side of caution for the sake of his family.
The machinery in the pictures is modern and expensive,even if just leased(and I don't know that it is leased),and all the road building and construction activity shown in the pictures cost money,as do the permits,and the labor. There are good roads to the port only 50 miles away- to answer another persons question.
The website noted that the govt had already approved the land use in 2008 but CWRN did not have the $60,000 to permit the Guadalupe portion of Baja 14 mine project. According to recent PR's they are now permitting additional ares and building roads to additional areas. I have accounting/economic/law degrees etc ,did land use planning for many years,and was President of a land mgmt org for 10 or more years.
Once the land use is approved(already done and CWRN is surrounded by other mining concessions),the exploration permits are issued and the company expends funds in RELIANCE thereon,the govt CANNOT deny final permits-in western societies which recognize individual and property rights-its only a matter of permit fees and bonding(which shouldn't be a problem because the area is uninhabited and surrounded by other mining concessions).
You don't permit and prepare additional areas without considerable financial backing which you are confident of.
With lesser financial backing CWRN would at most be staying w the $60,000 permit-not adding additional permits or building roads to additional mining deposits. After all, once production started on Baja 14,they could use the income generated to permit the additional sites and build roads to them at that time. So Bob is signaling a sea change-meaning this has really been ramped up,and I doubt that he won the lottery.
