Cotton & Western Mining Inc. (CWRN)

[microcaps1]

The iron market is so volatile and hot that annual contracts are no longer used.
Completely different market conditions than a couple years ago.
A few years ago China was setting prices by fiat(an odd buyer control monopoly) despite growing demand until suppliers gained the upper hand a few years ago-so the buyer can no longer set prices for various reasons.

For most companies,including CWRN, everything is now based on spot price on 90 day contracts,w a one month price lag to keep price fairly current,and ,as noted, the seller has his choice of many buyers until a solid 90 day contract is signed. I could reference a source to confirm but have not been given permission by the source provider yet-has nothing to do w inside info and is searchable on the web.

I don't think any LOI from 2009 would have any meaning under these changed market conditions-though the buyer would love to lock in such a deal.

Sorry temeku we have not been providing much reading material lately, as you noted, but reality -conditions on the ground-are finally disproving 100's of "it cant be done for this reason" contentions by detractors. So truth telling is not so urgent now.
Some big boys discovering the company w spikes eod yesterday and today?