Cotton & Western Mining Inc. (CWRN)

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This LOI would no longer be applicable under the greatly changed market conditions-if the buyer could enforce that it would be the greatest coup for the buyer but its no longer valid. I believe this is referenced in itmd's summation.

Contracts are now 90 days at spot(ca $175/ton now and rising to perhaps 200-250 this year as per web articles-see my posts)and PR shows CFR,not FOB shipping.

Superfines are bagged in huge bags for env reasons and originally were going to be shipped by container but weeks back Bullitt or somebody indicated the bags would just be thrown on top of the bulk 3-18mm ore,though they may have enough superfines for a shipload- but the 3-18mm are the bread and butter.

Since the PR's indicate a contract for 1-3mm and 3-18mm,that would imply a specific intended buyer though a different buyer could be selected (depending on contract)who desired this size ore.
Dredging should be finished by time they ship and should be finished now-just haven't heard-pesquero's company was involved in the dredging.

Read my post 19117 etc re the CE. It resulted from complaints by special interest groups being killed by the price rise and it looked like(to pinksheets alerted by said groups)that there was a massive stock promotion by penny newsletters-OTC trading services said they had no indication of fraud by the company. Thus I believe this is simply a pinksheets matter-no indication of any SEC involvement or concern.
Types of ships etc have been discussed in my previous posts.