Cotton & Western Mining Inc. (CWRN)

[ezmoney8787]

Agreed. Other posters were making statements about that LOI. When I saw that, I wanted to share my dd on the matter - which was, according to my conversation with a representative of the company, quite simply that the Hua dong Group (spelling?) had not entered into any contract(s) with CWRN around the time Kriton was loaded.

Oh and a while back you pm'd me about Kitco..I can't pm. just type that into google along with "base metals, comoditites forum"

Microcaps1: That previous LOI AND ANY OTHER PREVIOUS ARE ALL HISTORY MADE OBSOLETE FOR MANY REASONS,as I've noted several times.

It is a completely different market -both as to pricing and contracts-than when those previous LOI's were made.

As I noted before the company of the previous LOI was trying to use a poster to influence CWRN to give them a contract-not knowing the poster had no such influence.
It would be the steel of a century to get a contract at 145/ton.

As agmetalminer stated 12-13-10,the Chinese domestic cost of production-which is 150/ton- sets a FLOOR of 150/ton for iron prices.

If China could buy ore at 80/ton they would stop producing internally.
Common sense.