Company Profile

Churchill Mining PLC (Churchill or the Company) listed on the Alternative Investment Market (AIM) of the London Stock Exchange in April 2005.

Churchill's business plan is to leverage off the rampant growth currently experienced in China and India and in particular its appetite for raw commodities used as feedstock in its burgeoning steel and energy industries.

The execution of this business plan has been instigated with the acquisition of the Sendawar Coal Project in East Kalimantan, Indonesia as well as continued exploration of the South Woodie Woodie manganese project in Western Australia .

More recently, the company has concluded an Exclusivity Agreement with PT Techno Coal Utama in regard to the highly prospective thermal coal project located in the East Kutai Regency of Kalimantan, Indonesia.

Furthermore Churchill's management continues to assess further opportunities in Australia and southern Asia to acquire quality projects in line with the Company's business plan. Churchill is committed to growing shareholder value by become a leading minerals explorer and future miner at a time of accelerating commodities demand.


Recent Minesite article : http://www.churchillmining.com/pdf/2008/23_01_08.pdf


January 2008 Research note : http://www.churchillmining.com/pdf/2008/reserchnote.pdf

Churchill Mining plc
30 January 2008


30 January 2008
AIM:CHL

CHURCHILL MINING PLC
('Churchill' or 'the Company')

Tonnage increased at Churchill's East Kutai Coal Project
Kalimantan- Indonesia



Highlights


Outlined coal tonnage increased to between 135-140 million tonnes


JORC classification work to commence in Feb 2008


Exploration and drilling programme expected to come in under budget


Churchill Research Note now available at
www.churchillmining.com



Following 1800 metres of infill drilling and other technical work in December
2007 - January 2008 at the East Kutai Coal Project ('EKCP'), Churchill confirms
that the Company's internal coal tonnage calculations have exceeded board
expectations at the current stage of the programme.


Internal modeling by the Company's geological team within the first sector of
the initial drilling envelope of the EKCP, has identified an additional 50
million tonnes of coal, bringing the total defined to date up from the 85Mt -
90Mt calculated in December 2007 to between 135-140 Mt of coal.


The updated geological data will be sent to independent coal geological experts
SRK for review and for inclusion in the compilation of an ongoing JORC compliant
Resource Statement, the work for which shall start in February 2008 and continue
throughout the remainder of the year. The first stage of the JORC Statement is
still expected to be completed by the end of Q1 2008. At this point in time the
volume calculations do not form a JORC compliant resource and should not be
considered as such.


The additional tonnages of coal interpreted have resulted from a series of
infill drill holes completed since the last drilling announcement (12 December
2007) that have intercepted the known coal seams closer to the surface in the
west, and added confidence to the position of the southern extensions of the
seams, previously intersected in widely spaced drilling. The seams continue to
the south, with drill holes to date identifying two major coal seams (between
8-14 metres in thickness) together with a number of lesser seams over a strike
length of more than 6 kilometres. The seams also appear to be more gently
dipping in the southern areas tested to date and the next programme of broad
spaced drilling will continue to test at depth the outcropping coal occurrences
in the south.


The consistent lateral extent of the coal seams, coupled with the ease of
correlating the major seams during interpretation, is expected to reduce the
drilling requirements to achieve the exploration targets set for 2008 of
defining 500 million tonnes of JORC compliant coal Resources by the end of 2008,
inclusive of a Mining Reserve of 100 million tonnes.


Paul G. Mazak, Churchill's Managing Director, commented, 'Whilst the
classification of the coal occurrences by SRK will guide the drilling
requirements through the next two quarters, the Company expects that the cost of
the exploration and drilling at EKCP will be under budget due to the
consistency of the coal seams system'.


A Blue Oar Securities research note on Churchill, its projects and the coal
market is available at
www.churchillmining.com



ENDS


In accordance with the AIM Guidelines, Mr Brett Gunter, of PT GMT Services, is
the qualified person that has reviewed the technical information contained in
this release.


Enquiries:


Churchill Mining Plc Blue Oar Securities Parkgreen Communications
Managing Director - Paul G. Mazak Romil Patel Justine Howarth
+61 (0)8 9388 0377 +44(0)20 7448 4000 +44 (0) 20 7851 7480

paul.mazak@churchillmining.com
Olly Cairns
+61 (0)8 6430 1631


Notes to editors


Churchill Mining Plc listed on AIM in April 2005.


South Woodie Woodie


Given the increased prospectivity of South Woodie Woodie, and Churchill's
increasing focus on its Indonesian coal and coal bed methane projects, the
Company sold 80% of the project to Australian company Spitfire Resources Limited
('Spitfire'). Spitfire, which listed on the ASX on the 12th December 2007, will
have the option to purchase the remaining equity in the project after spending
AUD$1.5 million on exploration.


The South Woodie Woodie project covers approximately 490 square kilometres in
the East Pilbara region of Western Australia, and sits approximately 400km
southeast of Port Hedland in the highly prospective Pilbara manganese province.
Churchill has recently completed a heliborne versatile time-domain
electromagnetic geophysics programme and interpretive work, and a follow up
dipole-dipole IP survey which identified multiple drill targets.


Sendawar - CBM


The Sendawar Coal CBM project in Kalimantan, Indonesia, covers more than 800
square kilometres of prospective ground and lies in close proximity to two
operating open-cut coal mines. The project is located approximately 50km from
the Mahakam River.


During Churchill's coal exploration programme, data collected during geophysical
and resitivity work, along with data collected from previous oil and gas
exploration in the area; indicated that the area was highly prospective for Coal
Bed Methane. Churchill (70% of the CBM project) along with its Indonesian
partner RMU (30% of the CBM project) applied for and were granted Indonesia's
first CBM JEA license in September 2007. The CBM project has the potential to
host Gas-in-Place of 5.6 TCF. Churchill is currently conducting further studies
on the CBM project before starting detailed field work.


East Kutai Coal Project


Churchill announced on 15 February 2007 that it had signed an Exclusivity
Agreement with PT Techno Coal Utama to enable it to conduct due diligence work
on the thermal coal project. In May 2007 Churchill announced a sales agreement
had been entered into to purchase a 75% interest in the Project, which has now
been finalised. Exploration and resource drilling continue at the project.


This information is provided by RNS
The company news service from the London Stock Exchange

I am still convinced churchill will turn out to be one of the best performing AIM stocks of 2008, and this new article illustrates why, click HERE

Another JORC is due soon, and once they have proven up enough resopurce, and sorted out the various licences and permits, i would expect a takeover bid to come in, probably from an Indian company.

I would be disappointed if they were taken out for less than 2 personally.

And a bonus could be the CBM at Sendawar studies going on at the moment, news on that project expected anytime

seem's to be going ok !




Churchill Mining says to bring forward production at East Kutai to end-2009
AFX


LONDON (Thomson Financial) - AIM-listed Churchill Mining Plc. said it will bring forward production at the East Kutai coal project in Indonesia by 12 months to end-2009 and added it is in a strong position to raise funds for the construction of the project.

Additional coal off-take agreement negotiations and joint venture discussions with a number of parties are ongoing, Churchill said. The company, however, declined to release further details on projected costs and profits given the commercial sensitivity surrounding the negotiations.

Of Interest:

http://indonesia-oslo.no/Economic-Affairs/Indonesia-Can-Save-Up-To-Rp200-Trillion-In-Coming-Two-Years-VP.html

Searing coal prices cause a frenzy among investors
With coal prices at an all-time high, foreign and local investors alike are clamoring to accumulate coal mines as well as coal-mining stocks.
Bumi Resources is an example of this, having displaced Telkom Indonesia as the biggest company on the Indonesia Stock Exchange (IDX) in terms of market capitalization.

High demand for the stock caused Bumi's share price to jump in excess of 40 percent since the beginning of the year, raising its market value to $17.8 billion (based its closing price on June 24), accounting for nearly 10 percent of the total market capitalization of the IDX.

Aside from the controversial and hotly debated Adaro Energy initial public offering (IPO), there are currently four listed coal miners on the Jakarta Stock Exchange, in aggregate making up 15 percent and 20 percent of the total market capitalization and average daily turnover of the IDX respectively.

If you had invested in all four stocks at the start of the year, today, you would be up an average 45 percent, or a seven fold return compared to if you had put your money in the bank.

That said, it is not a surprise the planned $1.3 billion IPO for Adaro was 6.75 times oversubscribed.

In fact, the Adaro IPO is so hot that Indonesia's mutual fund managers association reportedly stated it asked the capital market regulators to review the planned Adaro IPO as virtually all of it members were prevented from applying for the shares.

They are not alone given that many international institutional investors also claimed they had also been excluded from what will be Indonesia's largest IPO ever.

In the real sector, the coal bonanza is also causing a frenzy among local companies from other sectors, including Astra Group, that wish to invest in the commodity.

To deal with local supplies, state electricity company PLN is currently considering going upstream by purchasing two medium-to-large coal mines from state-owned enterprises by next year.

This is in spite of problems confronting the sector, including a lack of proper ports, which has caused coal shipment delays, burdening companies with extra costs and forcing coal producers and buyers to be more reliant on onshore coal terminals.

Another problem is soaring coal demand. With coal prices up 169 percent in the past 12 months, producers are competing to sell their products on the higher-priced export market.

In 2007, out of 215 million tons of Indonesia's total coal production, 163 million tons, or 76 percent, were sold overseas, leaving just 52 million tons for the domestic market. However, overseas sales could very well be understated on the back of illegal mining operations and coal smuggling.

Compounding the problem is the fact that most local demand is for low-calorific coal, also sought after by Indian and Chinese buyers.

Domestic coal demand is expected to reach 90 million tons by 2010, up 80 percent from current levels. Most of this demand stems from the electricity generation industry, in line with the government's plan for coal to account for 30 percent of Indonesia's total energy mix by the year 2025.

PLN is currently the biggest single coal consumer domestically, consuming around 21 million tons in 2007. This coal usage is expected to triple in the next three years as a part of PLN's crash start program to build 10,000 megawatts of new coal-fired power plants by 2011.

In 2008, to generate electricity, PLN expects to use 24.5 million tons of coal, before further increasing to 43.8 million in 2009 and to 83.5 million tons in 2010.

This expected surge in domestic demand has raised fears among traders that the government may implement export restrictions in an attempt to secure local supplies.

However, government officials we spoke to said such a plan was not in the cards, at least for now. However, it is likely the energy minister will implement his scheme for Indonesian coal producers to pay fewer royalties to the government in return for making coal supplies available domestically.

Thus, even though coal is a leading source of atmosphere-warming greenhouse gases, its usage in Indonesia will continue to rise, as will consumption from rapidly industrializing nations, including India and China.

Amid the current global economic slowdown, high demand for coal, a cheaper alternative to oil, could very well make prices for this commodity almost "too hot to handle".

source: http://old.thejakartapost.com 25 June 2008

Of Interest:

Indonesia's Cilacap Power Plant Shuts on Lack of Coal (Update1)
June 25 (Bloomberg) -- PT Perusahaan Listrik Negara, Indonesia's state utility, said the 600 megawatt Cilacap power plant in central Java stopped operations after coal suppliers halted deliveries of the fuel.
PT Sumber Segara Primadaya, which runs the plant, hasn't received coal from suppliers PT Adaro Indonesia, PT Jorong Barutama Greston and PT Kideco Jaya Agung, said Fahmi Mochtar, president director of Perusahaan Listrik, which owns 49 percent of Sumber Segara.

``The shutdown began yesterday, and it may need three to seven more days to resume operations,'' Mochtar said in a phone interview in Jakarta today. ``Adaro stopped shipments because Sumber Segara has unpaid debt,'' he said, without explaining the halt by Jorong Barutama and Kideco.

The power station provides 3 percent of the electricity supply for Java, Indonesia's most-populous island, and Bali. The plant consumes about 14,000 metric tons of coal every three days, half of which comes from Adaro, the Jakarta Post reported today. The coal companies stopped deliveries because of bad weather, it said, citing a manager at Cilacap.

Sumber Segara ``has outstanding unpaid dues of 240 billion rupiah ($25 million),'' Andre Mamuaya, a director at Adaro, said in a telephone interview today in Jakarta. ``We can't send more fuel as the outstanding amount is becoming a burden for Adaro.''

`Supplies Continue'

Jorong Barutama continues to send coal to Cilacap under the terms of its supply contract, Roslini Onwardi, corporate secretary of Jorong parent PT Indo Tambangraya Megah, said by telephone in Jakarta. Onwardi denied weather had disrupted shipments.

Jorong hasn't responded to a request from Sumber Segara for additional coal to cover the suspended supplies from Adaro, Onwardi said.

Dedy Happy Hardi, Corporate Secretary of PT Indika Energy, which owns 46 percent of Kideco, wasn't immediately available to comment.

Source Bloomberg

Someone is happy with CHL just crossed the 12% level.
http://www.investegate.co.uk/Article.aspx?id=200807040928403298Y

http://www.discussthemarket.com/gkp-chat

Energy demand boosts Indonesian coal mines
Bayan Resources yesterday highlighted the interest investors are taking in Indonesia, the world's largest thermal coal exporter, when it announced plans to raise up to $695m by floating 25 per cent of its shares on the country's stock exchange next month.
With countries including China looking for alternatives to oil, global demand for Indonesia's largely low-grade thermal coal, used mostly in power stations, is surging, helped by the fact that suppliers, including Australia and South Africa, can no longer meet demand.

The price of thermal coal has climbed more than 160 per cent in the last 12 months. Power station coal prices at Australia's Newcastle port, a benchmark for Asia, jumped to a record $172.10 a metric tonne in the week ended June 27.

"Momentum is still very much in favour of coal, ahead of other commodities," says James Bryson of HB Capital Partners in Jakarta.

On the back of the rise in prices and demand Bumi Resources, Indonesia's largest coal miner, has seen its share price climb 922 per cent in the last 18 months.

According to Harry Su of Bahana Securities, Indonesia's big four listed miners now comprise some 15 per cent of the country's stock exchange's $200bn market cap and 20 per cent of its daily turnover.

Analysts said Bayan, a smaller player that produced 4.7m tonnes of coal last year, could draw interest from investors seeking similar returns.

The company has a goal of increasing production to 18m tonnes by 2010.

Dozens of foreign companies have bought stakes in Indonesian mines in the last two years. India's Tata Power, for example, last year paid $1.3bn for stakes in both of Bumi's mines and 10m tonnes of coal. Dozens more companies have started green field projects in the last year.

Indonesia's government is mostly supportive of the expansion.

Simon Sembiring, the director-general at the energy ministry responsible for mining, told the Financial Times it would be "stupid" to reimpose an export tax lifted in 2006 and that there are "no plans to ban or limit exports" provided domestic demand is met.

Indonesia absorbed 52m tonnes - or 24 per cent - of the legally recorded 215m tonnes mined last year.

Demand is expected to remain constant this year and jump to 75m tonnes next year, 90m in 2010 and 220m tonnes in 2025 as new power stations come on stream.

Operators' concerns about domestic prices being much lower than the international market have receded in recent weeks after PLN, the state electricity company, signed contracts to buy coal at $90 a tonne.

Mr Sembiring stresses, however, that foreigners would not be allowed to mine and export at will.

"If we met all the demands from China, India, Japan and Korea, all the coal would be gone in a few years," he says. "It's not just about chasing the money. We have to make sure we still have coal for the next 20 years."

There are, however, very significant impediments to investing securely in Indonesia's coal sector. The last contract of work was signed in 2000 and the world's major players are waiting for a new mining law, which has already been three and a half years in gestation. * Bumi Resources, Indonesia's largest coal miner, increased its takeover offer for Herald Resources, by 1.8 per cent to A$563.5m yesterday to break a stalemate in a six-month battle to control the Australian metals company. The rival Tango consortium, comprising Aneka Tambang, of Indonesia, and Shenzhen Zhongjin Lingnan Nonfemet, of China, said it would meet soon to consider its response. Both bidders hold about 19 per cent of Herald.

Thanks smiler o

9TH JULY, 2008




CHURCHILL MINING PLC

('Churchill' or 'the Company')




DRILLING UPDATE FOR THE EAST KUTAI COAL PROJECT, INDONESIA










Highlights:




Latest drilling and exploration programme defines a coal-bearing sequence up to 16.5 km along strike




Initial 250Mt JORC compliant resource reported previously covers less than 6kms of the potential 16.5km strike length



Further promising indications of coal resource quality with very low sulphur and low ash content




Drilling completed to date covers 3,489 hectares and represents less than 10% of total coal target area




Infill drilling programme at the potential first mine pit has commenced to advance the operation into production stage




Second pit drilling target being identified







Churchill Mining (AIM:CHL) is pleased to announce an update on its ongoing drilling programme at the East Kutai Coal Project in Indonesia.




The drilling so far has defined a coal-bearing sequence of approximately 11.5 kilometres along strike from the north-northwest to the south-southeast of the property covering approximately 3,489 hectares of the first target block (RTM), concession area, which represents the area of less than 10% of the four main coal target tenements.




A further 5 kilometres of strike potential of the present coal seams are indicated by the geological mapping and will be tested before the concession boundary is reached. Additional outcrops have been mapped within the RTP concession area to the south of the RTM concession area.




Ongoing drilling to the south of RTM, continues to outline areas of thick coal seams with recent individual intercepts of up to 25m with additional coal outcrops in a new promising area with the potential to host Churchill's second mine pit . A number of previous holes in the same area have intercepted this seam, with coal intercepts ranging between 18-21m.




Mapping to date has successfully located 304 coal outcrops. Depending upon their location in the structure, the coal seams range in dip from a relatively flat 2 to 10 degrees. The area chosen for initial JORC compliant drilling is defined by coal seams dipping up to a gentle 10 degrees and generally striking north-northwest to south-southeast from the western areas of the RP block extending southwards for 16.5 kilometres through the RTM concession and into the RTP concession (June 08 Drilling Update Map - http://www.rns-pdf.londonstockexchange.com/rns/6276Y_-2008-7-8.pdf). However, the initial 250 Mt JORC coal resource centres only on less than 6 kms along strike.




A major regional anticline, trending north-northwest and located immediately east of the current exploration area, is the main structural element in the area and the coal-bearing sediments are located on the western flank of this anticline formed within a gentle syncline structure that is occasionally warped.




The coal in the area is described as sub-bituminous with a very low sulphur content (<0.20%) and ash generally less than 5%. This type of coal is ideally suited to the new generation of power stations being built in rapidly developing economies such as India and China..




The coal that Churchill is expected to produce is now also finding strong demand in other markets, including Europe, where the low sulphur coals are being sought after for its lower environmental impact, suggesting growing demand for this type of coal in the future.




Drilling to date has totaled 12,970m, comprising 5,234m of open hole drilling and 7,735m of coring in 87 drill holes. All drill holes are drilled vertical and depths range between 24m-164m.




At present state, drilling remains reasonably wide-spaced at between 400-500m in most areas, with infill drilling starting in the first mine pit target.




Infill drilling is also being conducted in areas where the company is expanding the measured resource category by additional topographic surveys and selected infill drilling programme.




The company currently has three drill rigs on site with a fourth rig to be shortly deployed to increase the rate of the current exploration programme. The drill holes are geophysically logged at completion of the drilling to ensure the intercepts of coal are of acceptable recovery for the inclusion in the resource model. Analyses of the coal are completed at the Intertek Laboratory in Samarinda, an internationally accredited laboratory.




Churchill's Managing Director, Paul G Mazak, commented:




'The latest round of drilling has added to the potential of the coal deposits within the East Kutai Coal Project concession areas. The discovery of a coal seam of up to 25 metres in thickness stretching over 11.5 kilometres along strike, demonstrates the scale of the coal deposits within the concession area. There is a further resource upside of up to 6 kilometres strike length to drill within the RTM tenement and we are only just about to commence detailed drilling on the newly acquired western blocks.'




Churchill's EKCP retains SMG Consultants to model and analyse drilling and exploration data and further resource updates are expected during Q3/08.

Good bit of news smiler o,, its nice of the company to give us regular updates

Yes and in such a torid market !!

Also

July 9 2008



Churchill Mining says coal-bearing sequence up to 16.5 km defined at East Kutai
LONDON (Thomson Financial) - Churchill Mining Plc. said its ongoing drilling programme at the East Kutai Coal Project in Indonesia has defined a coal-bearing

sequence of up to 16.5 kilometres along strike.

The company said a coal-bearing sequence of about 11.5 kilometres along strike from the north-northwest to the south-southeast of the property covers around 3,489 hectares of the first target block (RTM), concession area, which represents the area of less than 10 percent of the four main coal target tenements.

A further 5 kilometres of strike potential of the present coal seams are indicated by the geological mapping and will be tested before the concession boundary is reached, it added.

Churchill Mining said it currently has three drill rigs on site with a fourth rig to be shortly deployed to increase the rate of the current exploration programme.

TFN.newsdesk@thomson.com tsm/slm

The way the company keeps moving forward with the drilling etc makes me think they will have no trouble selling the coal and may even to get an agreement before the start of production

Am looking at 1 or 2 years before we begin to feel the full benefit of this share

of Interest:

COAL NEWS: LATEST HEADLINES
12 July 2008 01:35 PM London Time




Indonesia May Set Domestic Coal Supply Obligations (Update1)
July 11 (Bloomberg) -- Indonesia, the world's biggest exporter of thermal coal, may enact a rule later this year requiring mining companies to set aside part of their output for domestic power plants, Vice President Jusuf Kalla said.
``We don't want to have blackouts, and on the other hand, we export coal,'' Kalla said in an interview in Jakarta. ``We shall be improving domestic obligations'' of coal producers.

The nation, which generates almost half of its electricity from coal, will need an additional 32 million metric tons of the fuel annually by 2010, when 41 percent of new capacity comes on- stream. Fuel consumption may rise further as more generators are added, Kalla said yesterday.

``We're not saying there will be a limit on exports, but we have to secure domestic supply,'' Jeffrey Mulyono, chairman of the Indonesian Coal Mining Association, said by telephone. ``We have no other choice but to have a regulation.''

The government may also seek royalties from mining companies in kind, and sell some of the fuel to state utility PT Perusahaan Listrik Negara below market prices, Simon Sembiring, director general of coal and geothermal resources at the Ministry of Energy, said in a separate interview. He declined to say if exports would be affected.

Indonesia will enforce a provision in the mining contracts of the country's biggest producers, including the units of PT Bumi Resources and PT Adaro Energy, forbidding them from charging domestic customers more than their lowest export price, Sembiring said on June 28.

Power Outages

Power outages are frequent in Java, the world's most populous island, because of a lack of funds to build plants and upgrade the nation's aging network to keep pace with demand. The government will require some factories to shift 10 percent of their operations to the weekend, when there's spare generation capacity, Kalla told reporters today.

Factories in Java and Bali would need to start weekend operations from July 21, said Industry Minister Fahmi Idris. Companies that don't comply will have their power supply cut temporarily, he told reporters.

The rule may be eased after December 2009, after some units of the new coal-fired plants become operational, said Fahmi Mochtar, president director of the utility.

The government ordered Listrik Negara two years ago to boost generation capacity by 10,000 megawatts to about 34,000 megawatts by 2010. Next year, the government will start construction of another 10,000 megawatts of capacity, a third of which will use coal.

Coal Production

``The rule that the energy ministry is preparing may also say in which months all sectors must submit their coal requirement,'' Sembiring said yesterday. `We have to know first the domestic demand. There are many kinds of coal, so we must know this first, and then we try to secure supply.''

The Indonesian Coal Mining Association forecasts production may increase 9 percent to 235 million tons in 2008. Mining companies may export 180 million tons this year to benefit from record global prices, according to the association said.

Thermal-coal prices at Australia's Newcastle port, a benchmark for Asia, rose 13 percent to an all-time high for a sixth week. Prices climbed to $194.79 a ton in the week ended July 4, according to the globalCOAL NEWC Index.

Record overseas prices led local producer PT Tambang Batubara Bukit Asam to increase the price it charges Listrik Negara, its biggest customer, three times this year. The current price is 90 percent higher than in 2007, Bukit Asam said.

Bumi Resources, Indonesia's biggest coal producer, fell 2.2 percent to close at 6,650 rupiah, while Bukit Asam dropped 1 percent to 14,600 rupiah.

source: Bloomberg 11 July 2008

Smiler,

CHL already have an off take agreement to supply around 10% of production to a local power station, which ,may be increased by the Indonesians with CHL's blessing, as the plant is local to the proposed mine, and therefore a saving on transport costs.

I believe up to 15% of production will go to the power plant.

Looks like coal is back in vogue?
http://www.bloomberg.com/apps/news?pid=20601087&sid=aF7J5DuEkRTU&refer=home
WTN up $1 in Canadian.
cyril

News! 33 metre seam discovered!

Click HERE

A nice tick up late in the day, with news due anyday, perhaps a leak?
cyril

">

RELEASE SCHEDULE OF JORC UPDATE

Churchill Mining (AIM:CHL) wishes to advise of a delay to the release of the next JORC resource update from the Company that was due this week.

The delay is due to the heavy workload of the independent coal experts preparing the report. The resource update is now expected to be released by the end of next week and will be followed by an update regarding the Feasibility Study Programme.

Seems positive mentioning a Feasablity study?

First Glance Update Post Analysts’ Visit Price target: 350p

Oil & Gas 8 May 2012

Full Value Dependent on Kurdistan's access to Export Revenues

There is little doubt that GKP's Shaikan is a world class asset, which we believe
will provide further upgrades to the Company's net reserves, as will the other
discoveries such as Sheik Ali that have excellent potential. Add to this the fact
that security fears have been overdone, and that the region is largely trouble
free, the outstanding issues relate to access to exports, or more specifically,
export revenues. We believe that the risks are limited to timing, and that our
target price of 350p (upgraded following this visit) is an adequate reflection
of these risks. Consequently, we are reiterating our BUY recommendation.
• Reserves upgrades will be the short-term catalyst: Recent well tests have resulted in
a greater understanding of the Shaikan asset. Firstly, the recent news from Shaikan-6,
which was designed to test the how far Shaikan extends to the south, failed to intersect
the oil water contact in the main Jurassic horizons. Management believes that the field
extends for up to 5km further downdip, which will substantially increase reserves.
Second, following flow tests and pressure studies, there is a belief that the Jurassic
horizons are contiguous with that observed in the Kand-1 well 40km to the south, which
was found to be water wet with excellent pressure support, providing for a natural water
drive mechanism; a revised CPR will be released in June or July.
• Production ramp-up will be achieved; it’s all about the timing: GKP is currently
producing ~6m bpd from its current facilities, which is sold domestically for $50/bbl. The
commissioning of EWT-1 will step up production to 20m bpd by Q3’12, while a further
upgrade to 60m bpd could be achieved by 2Q’13 via the commissioning of EWT-2
(1Q’12), and EWT-3 (2Q’12); trucking (the current field export method) can cope with up
to 70m bpd as ably demonstrated by Genel on Tak-Tak. We believe that the
management will be able to achieve these plans, with influences external to the
Company the only barrier to delivering on this timing. However, given our observations,
the support shown by all levels in Kursistan for this development, from the
Governmental to local, we believe that management's timeline is achievable.
• Operational team fit for purpose: What this trip highlighted is the distance that the
Company has travelled in a relatively short time. With a growing “in-country” operations
team, the focus is still very much on cost containment and the staged development
approach maximises the cash flow from operations while counter balancing it with
appropriate risk management. In this respect, the Company continues to impress, and
this ethos is reflected at all levels, which becomes apparent with the close inspection
that this visit has afforded.
• Full value to be unlocked by Kurdistan's Access to its Export Revenues: Currently,
Kurdistan and Baghdad are locked in a battle for Kuristan's share of the export
revenues. Until such times as Kurdistan achieves access to the export revenues accruing
to it from its production, GKP's production will be limited to revenues generated by
sales into the domestic market. We estimate that the domestic market amounts to
between 175 - 200m bpd, and would not support the full development scenarios of all
of the fields currently discovered and appraised. Consequently, the Company will not
derive the full value of its assets until such times as there is an effective route to market.
• A Target Price of 350p a Fair Reflection of the Risks: Following this visit, we are have
adjusted our target price to 350p, which we believe is a better reflection of the risks
associated with the portfolio. Further upgrades cannot be ruled out, and as a result, we
are reiterating our BUY recommendation. We have condensed a lot of information into
this note, but we will be providing a more in-depth note on GKP, incorporating all of the
thinking behind today's update as well as following the release of the Company's CPR.
cyril

HUGE resource increase announced today!

CLICK HERE

Great news and the SP is responding.
cyril

Evening Standard, London,


AIM-listed Churchill Mining added 7 1/2p to 66 1/2p after it said it had discovered three times as much coal at the East Kutai site in Indonesia than it had estimated. It thinks it can dig out 1.4 billion tonnes, compared to the 500 million previously suggested, and hopes to start production by the end of 2009.

guardian.co.uk

On Aim, Churchill Mining climbed 7.5p to 66.5p on news that its East Kutai Coal project in Indonesia had reached 1.4bn tonnes of thermal coal, well ahead of its 500m target for 2008.

Blue Oar analyst Alison Stent said: "This is incredible news for Churchill. The 1.4bn tonne resource has been defined from drilling over only 20% of the total target area suggesting substantial further upside."

Times Online

Tiddler to watch

Shares in Churchill Mining, the AIM-listed coalminer, soared 7p, or nearly 13 per cent, to 66p after the group announced a huge resource upgrade at its East Kutai coal project in Indonesia to 1.4 billion tonnes, from 20 per cent of its target area. The company has the largest resource figure of all the AIM coal stocks

Also tipped in the Telegraph and Express, so could see some more blue, come monday?
cyril

From Blue Oar,seem's to have helped the SP?


Mining: Churchill Mining (CHL.L) ; 59p CORPORATE
1.4bn tonnes JORC compliant coal resource at East Kutai
Churchill Mining has today released an updated JORC compliant resource
statement for their 75% owned East Kutai coal project of 1.4bn tonnes (up
from 250Mt previously)
The 1.4bn tonne resource substantially exceeds the companys year end
target of 500Mt, and with drilling complete on only 20% of the total target
area there is still significant upside potential from here
440Mt fall into the measured and indicated categories, suggesting that the
company may beat its year end minimum reserve target of 150Mt by a
substantial margin
The company is targeting first production by the end of 2009 with a
development decision in early 2009 following completion of the current
feasibility study
cyril

As jimmy cricket sadi, "and theirs more"?

Blue Oar view: This is incredible news for Churchill. The 1.4bn tonne resource has
been defined from drilling over only 20% of the total target area suggesting
substantial further upside, and with 440Mt in the measured and indicated categories
we believe that Churchill is well placed to significantly exceed their reserve target of
150Mt by year end. If we assume that the company is able to define a 300Mt reserve
by year end, this would suggest a value per Churchill share of 180p-360p based on
$1-2 per tonne of resource in ground

And with more to come?
cyril

You never know cyril ; )

This won't help in the short term?


BEIJING (Reuters) - Coal is piling up in China's top shipping harbor for the fuel, the official Xinhua agency said, as manufacturing weakness and slackening power demand undermine a market that was badly overstretched this summer.

Coal supplies in the northern port had reached 8.44 million tonnes by September 16, at least 3 million tonnes above normal levels, the report published late on Saturday said, citing an official there who declined to be named.

Qinhuangdao only has storage capacity for 10 million tonnes, but for two weeks a surplus has mounted at a rate of around 100,000 tonnes per day and other ports face similar problems.

In Guangzhou, there are 2.2 million tonnes of stored coal, compared with just 1.7 million in late June, Xinhua said.

Trading volume there is also down since July to just around 3 million tonnes, from 4 million tonnes a month in early summer.

Power plants now have enough fuel to cover an average 15 days of demand, following a summer when many were forced to close for lack of supplies or because soaring costs meant they could not make a profit by generating, Xinhua quoted Xie Juchen, head of the fuel section at the China Electricity Council, saying.

This caused crippling summer shortages that were the worst since 2004, with demand outstripping supply by more than 40 gigawatts.

But China's manufacturing sector contracted in July and August, contributing to a nationwide deceleration in coal and power demand, particularly in the south where rising labor costs and an appreciating currency are hurting exporters.

Around Beijing, factory closures to clear the air during the Olympics in August also dented demand for coal and power.

Analysts do not expect a repeat of the most severe coal shortages, though power supplies may still be tight this winter, as the government encourages small mines closed over safety concerns to reopen and some new rail routes come into action.
cyril

Churchill Mining Joins The Billion Tonne Club On East Kutai In Indonesia

http://www.minesite.com/nc/minews/singlenews/article/churchill-mining-joins-the-billion-tonne-club-on-east-kutai-in-indonesia/1.html

Coal mining is all about big numbers. Unlike gold mining you cant start small and work your way up because consumers want to have a reliable, large tonnage feed for many years. In contrast to gold, of course, there is not a ready market for odd lots of coal. Paul Mazak, managing director of Churchill Mining, understands that better than anyone. So when he decided to take an interest in coal mining he went to a part of the world that is renowned for its large coal deposits and started off with a target of finding a resource of 500 million tonnes of thermal coal. His companys exploration programme at East Kutai on the island of Kalimantan in Indonesia has subsequently over-delivered on that promise by declaring a resource of 1.412 billion tonnes in early September. Thats several months ahead of the target too. Not only is it a large tonnage but it is defined to JORC standards by SMG Consultants, an expat firm of Australian consultants based in Indonesia.
A large resource like that is a very fine thing, but a lot of work has yet to be done. The most important is the upgrade of the 972 million tonnes that currently lie in the inferred category. A key element in defining that tonnage to a higher standard is better topographical data, and that is now being done by laser aerial survey. In terms of the resource itself Paul says there is now no point in expanding the resource any further so all four rigs have been transferred to the site where the first pit will be dug. He already knows where it will be. An intensive drilling programme here is intended to raise the status of this material into a mining reserve which will form part of the feasibility study that is due for completion by the year end. Pauls ambition is to have about one third of the resource defined to a reserve standard by that time.

A lot of work needs to be done for the feasibility study but Paul already knows the coal has a good calorific value with a low ash content of 4%, so it doesnt need washing. A sulphur level of 1% should make it a sought-after product to blend with other coals to reduce sulphur emissions.

Although coal mining is capital intensive Paul is keen to fast track development to get cash flow as early as possible. In the early years the plan is to truck the coal to the coast then use barges to transfer it to Cape-sized vessels lying offshore. While that would be a relatively quick route to production it is not very low cost. By comparison with other mines Paul estimates about US$32 a tonne FOB. Even so, current and projected prices could make that viable, and year one production of two million tonnes in 2010 has been pencilled. Production should rise to four million tonnes the next year. The real ambition, though, is to take output up to 15 then 20 million tonnes a year in years three and four by installing a conveyor and an onshore loading facility for Cape-sized vessels. That could bring costs down by a long way to just US$13 a tonne. Before that all happens though Paul will be looking to bring in a joint venture partner to help with those capital costs. And someone who is a long-term coal consumer would be ideal.
cyril

Double post again.
cyril

News out today, good progress report and looking a great long term investment?
aimho
cyril

New article just published CLICK HERE

Someones is happy to accumilate.

http://www.investegate.co.uk/Article.aspx?id=200810201038071931G

I do like this company very much and i'm tempted to increase my holdings, i see
it as a no brainer in a normal market and will prove to be a real bargain once the market returns to normallity?
aimho
cyril

What makes feel investing in this company (with 1/2 years time in mind)?

Thermal plants face coal shortage
More than 60 per cent of Indias coal-based power plants are running with less than a weeks consumption of coal, threatening to affect power availability at a time when Indias peak deficit is hovering at around 15 per cent. The Central Electricity Authority (CEA), the apex power sector planning body, said in its latest report that 50 out of 81 thermal power plants in India are having stocks less than 7 days of consumption in September, the latest period for which data are available. This is the highest number of plants having stocks below the critical level in recent times.
The CEA report cited non-receipt of coal, inadequate linkage and higher generation, as well as law and order problems as reasons for the current situation.

The situation is getting worse, said Minister of State for Power Jairam Ramesh, referring to supply of coal to the power stations. In some cases stock level has gone down to even two to three days, he added.

At present, India has 81 coal-based thermal power stations which are largely fed by coal supplied by Coal India Ltd (CIL), the country

Some more for the positives?

Thermal plants face coal shortage

More than 60 per cent of Indias coal-based power plants are running with less than a weeks consumption of coal, threatening to affect power availability at a time when Indias peak deficit is hovering at around 15 per cent. The Central Electricity Authority (CEA), the apex power sector planning body, said in its latest report that 50 out of 81 thermal power plants in India are having stocks less than 7 days of consumption in September, the latest period for which data are available. This is the highest number of plants having stocks below the critical level in recent times.
The CEA report cited non-receipt of coal, inadequate linkage and higher generation, as well as law and order problems as reasons for the current situation.

The situation is getting worse, said Minister of State for Power Jairam Ramesh, referring to supply of coal to the power stations. In some cases stock level has gone down to even two to three days, he added.

At present, India has 81 coal-based thermal power stations which are largely fed by coal supplied by Coal India Ltd (CIL), the countrys largest coal production utility, and its subsidiaries. India is planning to add about 78,700 Mw of power capacity in the current Plan period (2007-2012). A greater chunk of this capacity 50,570 Mw or 64 per cent is going to come from coal-based thermal power stations.

However, the coal ministry says that its allotting coal in excess of what was being asked. We have given 101.6 per cent of coal than what we committed to the Planning Commission. Whatever shortfall is there in availability of coal, it is due to non-import of coal scheduled by the utilities. If they are not importing it, what can we do? asked Santosh Bagrodia, minister of state for coal, adding that no power station in the country has lost production due to unavailability of coal.

However, experts of the industry believe that this worsening situation of coal availability at thermal power stations might lead to serious concerns for the power industry in the future.

Coal sector is moving at a much slower pace than the power sector. The supply crisis will result in a major hit to future power projects because of a negative impact on the supply situation. The impact will be more on private power developers who have been assigned projects but have not yet linked fuel supply, said Kuljit Singh, partner, Ernst & Young.

Singh also added that in future the developers would think twice before endorsing a project. If the supply is not sufficient for current projects, how will it ensure availability of coal for future projects? Singh asked.

The number of power stations running on critical level of coal stocks has seen a gradual increase since the beginning of the current year. In April, 24 stations were reported by the CEA to have critical stocks of coal. The number has now gone up to 50.

The list of power stations running at critical stocks of coal include 14 coal-based thermal power stations in the northern region, 10 stations in west, nine in south and 17 in the eastern region.

The Business Standard - 21-Oct-08
cyril

UPDATE ON FAST-TRACK TO PRODUCTION

New transport solution for Fast-Track production identified which may considerably decrease Capex requirements.

Increase in initial tonnage target in first year up to 3 Mt and second year up to 5 Mt.

Coal upgrading has potential to lift operational pre-tax profit by US$31 per tonne.

Churchill Mining Plc, (AIM:CHL) the Indonesia focused mining company with a JORC resource of 1.4 billion tonnes of thermal coal at its East Kutai Coal Project ('EKCP'), is pleased to announce significant progress on the transport options it is finalising in order to Fast-Track the project to production in Q4 2009.

New independent studies verified by the Company have concluded that a combination of road and river barge transport is now possible and should be the most capital cost-effective and quickest initial access method to transport the coal from site for the Fast-Track production scenario.

The new studies involved Side Scan Sonar, LIDAR aerial survey and a condition survey of the river. This concluded that access to the Senyiur River, which is a tributary of the Mahakam River south of the EKCP, can be used to transport the coal down to the Mahakam River for transhipment and onto multi-user coal ports at the coast. This access route was previously thought to be restricted. The newly surveyed Senyiur River route could enable shipping of up to 7 Mtpa of coal, starting with delivery of up to 3 Mtpa, which is the increased target for the first full year of production.

Currently, a new multi-user coal barge port is being built on the Senyiur River by a third party. Churchill management is in discussions with the company constructing this river barge port to gain access to the facility, which would result in a significant reduction in capital expenditure for Churchill. The Company is also in discussions with the owners of current and proposed multi-user coal ports on the coast, which if access is gained, will also add significant further reductions to Churchill's project capital costs.

The Company continues its detailed work on a number of options for the 20 mtpa Full-Production scenario, to transport the coal to a new dedicated port, including a conveyor system.

Infill drilling continues on site and is on target to upgrade much of the 1.42 Bt of coal resource to 'mineable' by the end of 2008.

Churchill recently launched a review into coal treatment processes that have the potential to move the energy content of EKCP's thermal coal from the current range of kcal 4700 - 5600 ADB (Air Dried Basis) to over kcal 6000. This would enable the Company to achieve higher pricing terms for its thermal coal.

Churchill's examination of processes to upgrade the EKCP thermal coal has determined that the coal sale price assumptions in the Company's business model could be increased from US$50 per tonne to US$84 per tonne (in the current price environment) at an operational cost of US$3 per tonne.

Churchill Managing Director Paul Mazak commented:

'The various elements of the EKCP are fitting together in a way that should significantly increase the bottom line, especially by upgrading at least part of the coal production to achieve a higher value per tonne. Churchill's technical team is in the process of finalising their assessment of the available upgrading technologies and it is envisaged that at least one of these plants will be on-stream during the first year of production.
cyril

Pala buying more,now above 21%
cyril

I only wish i could buy more cyril to bring my average down a little, but funds tight at the moment

Pala look to be in a no loose situation, whatever their plan is

08 Dec
'Churchill' or 'the Company'

More than 500Mt of coal at low strip ratios shown by preliminary pit optimisation studies

Churchill Mining Plc, (AIM:CHL) the Indonesia focused mining company with a JORC resource of 1.4 billion tonnes of thermal coal at its East Kutai Coal Project ('EKCP'), is pleased to announce that studies it has undertaken as part of its fast-track to production, show that more than 500 million tonnes of the in-situ JORC compliant resource of 1.4 billion tonnes falls within a preliminary pit design at a stripping ratio of just 2.23:1. This calculation does not constitute a JORC mineable reserve. However, the results indicate the planned future operations will allow significant tonnages of the coal resource to fall within design pit shells with a low stripping ratio.

At this stage the pit design studies concentrate only on the northern half of the current target drilling area of the RTM block, with the southern section still being evaluated.

Whilst the studies are preliminary in nature, early mine-pit optimisation models show the following in-situ coal tonnages within the designed pit:

Stripping Ratio In-situ Tonnes

1.29 260 Mt

1.50 325 Mt

1.89 442 Mt

2.23 551 Mt

Churchill is encouraged by the steps emerging countries are making towards introducing new sources of coal fired power. China is bringing forward its country electrification programme and Indian companies such as National Thermal Power Corporation, are in the process of constructing another 25,000 MW of power. With India unable to fulfil its thermal coal supply domestically, Churchill is well placed to capitalise on the future demand from India and the Company continues its discussions with a number of Indian companies about off-take agreements.

Churchill's Managing Director, Paul Mazak, commented;

'We are now approximately 12 months off our first phase of production at the East Kutai Coal Project. With the current international coal price having come off, these low stripping ratios are of great positive significance to the economics of the project. By focusing initially on the coal available at low stripping ratios, we are expecting to significantly reduce our operating costs during the initial period of mining, which is especially important on large projects such as this one.'

From Thursday,

RNS Number : 5658J
Churchill Mining plc
04 December 2008



CHURCHILL MINING PLC

("Churchill Mining") or ("the Company")

HOLDINGS IN COMPANY

Churchill Mining (AIM:CHL) is pleased to announce that Indo Setubara Limited ("ISB") has
purchased 4,450,000 ordinary shares,
representing 6.62% of the Company. ISB notified Churchill Mining of the acquisition of shares
on 4 December 2008.

ISB, a company managed by Advaita Partners Limited ("Advaita"), is aiming to become a
preferred fuel supply partner for Indian power
producers. It has an interest in several coal concessions in Indonesia and Mozambique.
Advaita, an investment manager focussed on energy
sector, also has mandates for coal supply from several power companies setting up over 10 GW
of imported coal based power capacity in South
India.

Commenting on the investment, Paul Mazak, Managing Director of Churchill Mining, said:

"Churchill Mining welcomes the investment of ISB and looks forward to further developing
its relationship with the company. Such a
significant investment in Churchill Mining as it fast-tracks its East Kutai Coal Project to
production acknowledges the vote of confidence
that this investment in Churchill Mining represents."

And today Pala announced it had increased its holdings to 26.72%, up from
22.07% less than a fortnight ago.

Pinched this from another board,eit sums up imho the situation?

Now why would a company that has "mandates for coal supply from several power companies setting up over 10 GW of imported coal based power capacity in South
India" want to invest in Churchill?

I assume this is the same Advaita:

"Advaita Indian Energy Ventures Ltd. seeks to invest in companies and/or projects across the energy value chain. The company is focused on Power Generation, Transmission and Distribution; Power trading, Energy Equipment, Energy Related Services and Fuel Assets (Coal, Natural Gas, etc).

We intend to invest across all stages of the business cycle from Greenfield projects to mature businesses. We provide Venture, Growth, Buyout and Mezzanine Capital. We also invest in Public Markets and provide Asset Financings".

http://www.advaita-ventures.com/investmentobjective.html

Head office in Guernsey. Pala head office is in Jersey. Coincidence?

cyril

new article, click HERE

Cheers Andy.
cyril

Updated: 2008-12-19 08:48
Counter:201

The recent recovery of steel and cement industries is likely to help coal price to regain the momentum to rise despite of little change in the fundamentals of coal industry.

The 4-trillion financial aid of China's central government, most of which are invested in the construction of infrastructures, greatly boosted the production steel and cement industries in some parts of China.

According to the Society for Promotion of Industrial Economy of Tangshan, Hebei province, 28 percent of its iron and steel production capacity in the iron and steel city still halted production, a big decline from 58 percent in September and October, and over half of suspended production capacity has resumed operation.

Besides, the cement production also increased in some regions of China. Since the end of Nov., cement price in Shanghai, Jiangxi and Hubei provinces has seen a boom on account of growth in demand.

Since steel and cement are important downstream industries of coal, the production rise in these two sectors will no doubted boost up the demand for coal.

Meanwhile, the coal inventories at Qinhuangdao and Guangzhou Harbours have decreased from the peak of 9.23 million tons and 2.49 million tons to 7.7 million tons and 1.66 tons respectively, which would help balance the supply and demand in domestic coal market.

In addition, coke price increased slightly after sharp slide. For example, the price for secondary metallurgical coke surged by 100 yuan per ton on Dec. 15 from 1400 yuan per ton on Dec. 1.

A research report of China International Capital Corporation Ltd. also hold that the spot coal price is likely to rebound recently, which will be favourable for the coal price negotiation of 2009.

Li Chaolin, researcher with China Coal Market Network, predicted that coal price to be decided at the order meeting of 2009 may rise because price gap between the planned coal price and market coal price remains 10 percent at least.

cyril

http://www.moneyam.com/action/news/showArticle?id=3532660
cyril

Julian Emery, analyst at Ambrian, says: "This news (link up with Leighton) is positive for Churchill as it represents an alliance with the world's largest contract miner, which is vastly experienced in the coal mining industry and has a strong presence in Indonesia."

cyril

Deal agreed!

Click HERE

Andy comes up as Regal?
cyril

CHL making good progress, Pala increasing its share to 27.84% seems to have woken up investors to the value of this company?

cyril

niceonecyril,

rumours of a bid apparently, although i fear that it will fall short of what holders would wish for if mining commences, and they convert more resource to reserve.

Andy thier seems to be plenty of interest in the coal sector at present, GCM waking up, offers for PRL, CDN and now this which might give an idea of what CHL might be worth?

Xstrata rights issue and acquisition of Prodeco Thermal Coal business for $2bn from Glencore. (Glencore have call option to buy it back at $2.25bn)
so it looks like EV of $8/tonne
or $200 per tonne of current production


The Prodeco Business comprises Glencores Colombian high-grade thermal coal mining
operations and associated infrastructure. It consists of two open pit coal mining operations (the
Calenturitas and La Jagua complexes), export port facilities and a 39.8% share in a railway.
As at 1 September 2008 the Prodeco Business had a saleable reserve base in excess of 250 Mt.
The Prodeco Business is currently the third largest producer of export thermal coal in Colombia,
in 2008 producing 9 Mt of export thermal coal predominantly for the European and United
States power generation markets. It plans to increase export thermal coal production to 17 Mtpa
by 2013.
The consolidated gross assets of the Prodeco Business as at 31 October 2008 were $1,049
million and as at 31 December 2007 were $872 million. In the 10-month period ended 31
October 2008, the Prodeco Business recorded consolidated profit of $41 million and, in the 12
months ended 31 December 2007, the Prodeco Business recorded consolidated profit of $46
million. The Prodeco Business financial information presented above has been extracted without
material adjustment from the unaudited interim accounts prepared under IFRS as at and for the
10-month period ended 31 October 2008 and audited accounts prepared under IFRS as at and
for the 12 months ended 31 December 2007.

cyril

Been on my watchlist for a while, not yet in, what are the prospects for CHL or is the sp increase solely due to take-over rumours?

Andysmith try reading post 22 for a quick insight, well worth reading all the 50+ posts if your serious about investing?
cyril

4 February, 2009

CHURCHILL MINING PLC

('Churchill' or 'the Company')

Update on East Kutai Coal Project

Response to recent share price rally

Churchill Mining PLC (AIM:CHL), the Indonesia focused mining company with a JORC resource of 1.4 billion tonnes of thermal coal at its East Kutai Coal Project ('EKCP'), would like to provide an update on developments at EKCP in response to enquiries from shareholders and analysts regarding the recent rally in the Company's share price and other market speculation regarding financing.

JV and Financing Update

With regards to the finalisation of a joint venture or financing of Churchill's East Kutai Coal Project, the Company wishes to state the following:

1) Churchill has moved from general discussions to formal Confidentiality Agreements (CA's) and
due diligence with three well financed international companies wishing to invest or JV in a coal
project the size of the EKCP in Indonesia. Whilst the companies concerned are considering all
aspects of the project's coal production potential, the great appeal of Churchill's EKCP is the
possibility for large annual production over the longer term.

2) A full due diligence process is being carried out by the three companies. It comprises of legal,
engineering, geological and economic examination of the site by various consultants (including
consultants based in Indonesia) engaged by these companies. A number of alternative haulage
methods and routes to port are also being examined by each company to suit their needs.

3) Whilst, the due diligence exercises are progressing well, Churchill wishes to advise that no final
deal has been completed at this point and there can be no guarantee that a deal with any of
these companies will be reached.

Project Update

Recent adverse weather conditions and heavy rainfall in the Kalimantan area has delayed reserve drilling and laser surveying at the EKCP.

The reserve drilling target has been expanded to included smaller tonnages of higher calorific areas in the north east of the EKCP's main area. Subject to the weather improving, Churchill expects to complete reserve drilling in the next six weeks.

Not only does the Company expect the overall size of the JORC resource, currently sitting at 1.4 billion tonnes of thermal coal, to increase substantially, but also that reported reserves will be substantially ahead of the original 100Mt management expectations.

Churchill continues to examine the engineering design, costings and work on 'Fast Track' and 'Full Production' scenarios for the project.

In light of current coal prices, Churchill is also considering other development alternatives based upon the low stripping ratios of the project.

Further updates will be provided in due course.

ENDS

A very, very positive RNS.
cyril

Really surprised nobody seems to be interested, has risen an extra 10%+ since i last posted.
cyril

The Times

Churchill Mining gained 2p to 38p after the miner revealed that three companies were carrying out due diligence regarding investing or entering into a joint venture in its East Kutai coal project in Indonesia.

cyril

Not a good day for any news but full marks to the company for keeping us informed
Happy to hold



RNS Number : 3544O
Churchill Mining plc
05 March 2009



5 March, 2009




CHURCHILL MINING PLC

('Churchill' or 'the Company')




PROJECT UPDATE




Churchill Mining PLC (AIM:CHL), the Indonesia focused mining company with a JORC resource of 1.4 billion tonnes of thermal coal at its East Kutai Coal Project ('EKCP'), is pleased to provide an update on progress with haulage options and negotiations with potential project investors.




Haulage Options




As announced on 4 February 2009, three prospective investors have been carrying out full due diligence of the EKCP site. This process has also included studies of alternative haulage methods and routes to port.




Engineering teams are examining the preferred transport route which is a combination of haul road and conveyor system to the east of the project. Currently three surveys are being conducted around the project. A land survey of the eastern haul road and conveyor corridor, a land survey of the coastal port site and a hydrographic survey of the coastal port site.




The Regent of East Kutai has confirmed in writing his support for Churchill and its partners to develop the project and construct the haulage system and port. The Company is also pleased to confirm that The Regent has also instructed the Departments of Mining, Planning, Forestry and Environment to help Churchill and its partners to expedite the development of the East Kutai Coal Project.




Project and Financing Update




Following a delay due to adverse weather conditions, reserve drilling is expected to be completed in a fortnight. This will be followed by a laser aerial survey and the digging of a test pit and building of a coal stockpile for testing.




Negotiations are continuing with various prospective project finance investors, potential Joint-Venture partners and financiers. It is anticipated that the haulage methods will be tailored to fit the needs of the investor. Churchill wishes to advise that no final deal has been completed at this point and there can be no guarantee that a deal with any of these companies will be reached.




Further updates will be provided in due course.




ENDS

Quite a drop in the SP, most surprised with no idea why?

cyril

Looks like trying to shake some out cyril, but came back with some buying

Seen these tricks before, good news maybe not far away

Annual report out,some extracts from it.

At the time of writing the EKCP had a JORC compliant resource of 1.4 billion tonnes. However, infill drilling, along with airborne topographical surveys are expected to lift and improve the categorisation of much of this resource. It will also allow Churchill to publish its maiden mining reserve soon and it is expected this reserve number will be substantially ahead of management's initial 100 million tonne target

Given the drilling successes being achieved, Churchill moved to employ specialist engineering group PT Trans Tek Engineering (who are experienced in the Indonesian mining environment) to work with our internal team and begin mine design scoping work. A fillip to this has been a Heads of Agreement signed with renowned contractor Leighton.




The scoping work has and continues to look at variables such as mining parameters, potential haulage, and conveying routes, optimum production tonnages, port stockpile and handling facilities and power options.



Given the super-size scale of the EKCP project, Churchill has recognised the need for the introduction of one or more large partnering group/s to advance the project. Your company has consequently been actively engaging coal and energy-related groups with large balance sheets to examine potential entry points into this world-class enterprise.


To date our focus has been very much consumed by EKCP, however, Churchill's second Indonesian project - the Sendawar Coal Bed Methane Project - continues to be of interest given the increasing cost of energy inputs. The area sits in a coal basin with potential to host 5 trillion cubic feet of gas.

cyril

Annual report out,some extracts from it.

At the time of writing the EKCP had a JORC compliant resource of 1.4 billion tonnes. However, infill drilling, along with airborne topographical surveys are expected to lift and improve the categorisation of much of this resource. It will also allow Churchill to publish its maiden mining reserve soon and it is expected this reserve number will be substantially ahead of management's initial 100 million tonne target

Given the drilling successes being achieved, Churchill moved to employ specialist engineering group PT Trans Tek Engineering (who are experienced in the Indonesian mining environment) to work with our internal team and begin mine design scoping work. A fillip to this has been a Heads of Agreement signed with renowned contractor Leighton.




The scoping work has and continues to look at variables such as mining parameters, potential haulage, and conveying routes, optimum production tonnages, port stockpile and handling facilities and power options.



Given the super-size scale of the EKCP project, Churchill has recognised the need for the introduction of one or more large partnering group/s to advance the project. Your company has consequently been actively engaging coal and energy-related groups with large balance sheets to examine potential entry points into this world-class enterprise.


To date our focus has been very much consumed by EKCP, however, Churchill's second Indonesian project - the Sendawar Coal Bed Methane Project - continues to be of interest given the increasing cost of energy inputs. The area sits in a coal basin with potential to host 5 trillion cubic feet of gas.

cyril

That is why sp is falling...


Churchill Mining interim losses rise
MoneyAM


Churchill Mining posts an interim operating loss of $7.9m - up from $1m in 2007.

Losses attributable to equity shareholders for the six months to the end of December total $13.8m - up from $1.9m last time - and the firm had cash and cash equivalents of $8.3m compared with $19.9m previously.

Churchill said the East Kutai Coal Project in Kalimantan about 110km north of Sangatta is a discovery of world-class size.

Churchill acquired a 75% stake in the project during 2007 and since then has been aggressively drilling the area for sub-bituminous thermal coal.

Churchill said it been hit by the global credit crisis and the corresponding downturn in commodities prices and particularly the value of the pound sterling but remains optimistic about coal and its future in the mid-term.

Yes quite a high cash burn, but not to worried L/Term as proving up resources is an expensive business. Short term we might see a drop in the SP which in turn will
give a buying opportunity, with reserve update in the not to distant future being
discribed has "substantial" any pull back imv will make this a golden chance?
With at present a M/Cap of just 22.3m and cash from report of 6m our 100m/tonnes is valued at $0.22 a ton, simply rediculous and with an update somewhere whats expected $0.1/tonne. All that and a CBM with 5trillion cfgas,
makes this one very cheap company?
aimho
cyril

The following article give a good idea of the future demand for thermal coal,
Peabody are the largest private coal producer. They are in talks with PRL with a
time limit (31st march),so i'll also post their.

Generation Development
Operations

Coal is leading the largest build-out of baseload power in a generation. The U.S. Energy Information Administration projects world electricity demand to nearly double in the next quarter century, with coal-fueled generation accounting for approximately half of all new capacity. A new fleet of state-of-the-art coal plants is being developed across 19 U.S. states, and around the world more than 156,000 megawatts of clean coal-fueled generation are under construction, representing more than 500 million tons of coal use.

Renewed interest in coal-fueled power comes as U.S. generation capacity reserve margins are declining and reliability is weakening. Nuclear utilization is running at maximum capacity, hydropower is not expanding and is dependent on annual precipitation, and prices for imported natural gas continue to rise. With essentially no electricity plants developed during the past 20 years, America's energy system is running hard and new generation is needed to keep pace.

Only coal is equipped to close the gap between rising need and scarce and expensive resources. Coal averages less than half the delivered cost of natural gas, and the 10 states generating the most coal-fueled electricity enjoy power costs that are 40 percent lower than states relying on other fuels.

Peabody is exploring generation development opportunities in areas of the country where electricity demand is strong and where the company has access to land, water, transmission lines and low-cost coal. The company is continuing to progress on the permitting, transmission access agreements and contractor-related activities for two clean, low-cost mine-mouth generating plants in Kentucky and Illinois that would serve about 3 million families and businesses.

http://www.peabodyenergy.com/Operations/generationdevelopment.asp

cyril

An article from none other than the New York Times.

http://nytimes.com/2009/03/28/business/worldbusiness/28mine.html?ref=business

But all three transactions, each announced in the last few months, reveal Chinas desire to take advantage of the recent drop in commodities prices to secure its hold over natural resources".

In the half year report the company was keen to highligh that;

- Discussions with multiple coal industry-related parties regarding possible joint venture and project financing solutions for the EKCP

The report goes on to say;

...."It will also allow Churchill to publish its maiden mining reserve soon and it is expected this reserve number will be substantially ahead of management's initial 100 million tonne target".

"Given the super-size scale of the EKCP project, Churchill has recognised the need for the introduction of one or more large partnering group/s to advance the project. Your company has consequently been actively engaging coal and energy-related groups with large balance sheets to examine potential entry points into this world-class enterprise".

..."Quintessentially, we believe in the future of energy - and to this end coal is a cheap, known, abundant and safe energy fuel ideally suited for the populous developing Asian world".

Additionally lets not forget what the company said on the 4th Feb 09 as a response to the rally in the share price. Notice that not just one but THREE companies are doing DD on the project;

1) Churchill has moved from general discussions to formal Confidentiality Agreements (CA's) and due diligence with three well financed international companies wishing to invest or JV in a coal project the size of the EKCP in Indonesia. Whilst the companies concerned are considering all aspects of the project's coal production potential, the great appeal of Churchill's EKCP is the possibility for large annual production over the longer term.

2) A full due diligence process is being carried out by the three companies. It comprises of legal, engineering, geological and economic examination of the site by various consultants (including consultants based in Indonesia) engaged by these companies. A number of alternative haulage methods and routes to port are also being examined by each company to suit their needs.


cyril








cyril

Break out yesterday, with news of reserves update(which we are told is significant to the already 100mtonne already muted at but not official)
shortly to be announced, couple this with 3 interested JV's/ Financiers and
you can understand why i'm so keen on this stock.
aimho
cyril

CHL seems to be in breakout mode with M/Cap rising fom 14.7m to 17.6m in
the last few days. Theirs been a steady 10,000 trades taking place for sometime with 6 such trades this am, all 97,000 so far trades are buys.
Not really surprised as news can't be far off now and remember its "significant"
cyril

Cyril, whats your view on CFM they seem to be steadily climbing where others are static.

Baler;Sorry no real knowledge of the co., although i took a quick look, it seems that
it got hit by lack of demand.With the mine reopened and if the price of cobalt continues to rise then it'll be a good investment?
cyril

CHL is breaking out and will soon have a golden cross,its a shame that so little interest has been shown on for this company on this board.
Simple calc's cab explaib why i'm so positive,

SP = 43.25p(bought a lot cheaper) with 67.2 million shares in issue this gives a M/Cap of just 22.18m.

CHL have indicated they have reserves of 100m/tonnes of thermal coal?

They also tell us that the reserve update will be significantly higher,which is expected anyday now,
If we allow that figure to be 200m/tonnes and give a value of $1/tonne/reserve,
which is not OT then we have a $200m asset/1.49=134.22 of which CHL's share is 75% so = 100.67m.

Now lets be ultra conservative and say $0.5/tonne, still 50.33/67.2= 1.50p?
150/43.25= roughly 3.5 times the present SP.

3.5 Times for 20% of the total acreage tested.

It should also be mentioned that the resource is for "1.4 Billion tonnes of coal".

We have 3 interested (unsolictated) parties for either finance or JVing of the project?
First coal production expected later this year and a contract to supply 2 new power station, (at present being built and next door to the EK project)for 900,000tonnes of coal for 30years starting 2010.

Plus we have an excellent CBM asset which as been put on the backburner at
present.

The above are why i am a believer.
aimho
cyril

21 April, 2009
Churchill Mining Plc
("Churchill") or ("the Company")
Churchill Selected as Potential Coal Supplier to PT Cirebon Electric Power
Churchill Mining (AIM: CHL) is pleased to announce its fully owned subsidiary,
PT Indonesia Coal Development (ICD), has been selected as a prospective thermal
coal supplier to Indonesia's PT Cirebon Electric Power (CEP), which is building
a 660 megawatt power plant in West Java.

Churchill Mining, through its Indonesian incorporated subsidiary ICD is
developing the East Kutai Coal Project ("EKCP") in East Kalimantan which has a
JORC resource of 1.4 billion tonnes of thermal coal.

CEP has confirmed in a letter to PT Indonesia Coal Development that after
evaluating its coal specification, ICD has been registered on its list of
qualified coal suppliers for its power plant, currently under construction in
Cirebon, West Java.

PT Cirebon Electric Power is an independent power producer which is building a
660 megawatt coal fired power plant, due to start operations in 2011. Japan's
Marubeni Corporation holds a 32.5% stake in CEP.

CEP has previously indicated that the power plant will require up to 3 million
tons of coal per year.

The registration entitles ICD to bid to supply coal to the power plant when it
is required. In order to remain qualified to bid for the supply contract, ICD
will provide data on an ongoing basis.
Under a 30 year contract, the Cirebon power plant will supply electricity to the
state electricity firm Perusahaan Listrik Negara (PLN).

Churchill Mining CEO, Paul Mazak commented:
"It is a significant milestone for Churchill to have been selected as a
potential supplier of coal to PT Cirebon Electric Power's West Java power plant
when it is commissioned in 2011. With such a large and growing resource at our
East Kutai Coal Project, Churchill Mining is more than capable of meeting the
considerable demand that the plant requires. This option is one of many that
Churchill Mining is exploring as it moves forward to bringing the project into
production."

http://tech.dir.groups.yahoo.com/group/simplycomputers2/messages/212198


cyril

Some heavy buying this am, a 100,000 and 250,000 making 416,000all buys. Add a 100,000 buy yesterday and it appears someones accumilating ahead of overdue significant reserve update (8 weeks have passed)?
aimho
cyril

Really high volume today, would suggest not far off??
cyril

CHL is breaking out, with news of signicant resource/reserve update expected next week?
cyril

Very pleased with todays trading, looks good for next week. Looking for a min of 60p but hoping for 70p+.
cyril

Last chance to get in on the cheap??
Resource up from 1.4 to 3.18 BILLION/TONNES.
Looking to increase RESERVES from 100m/tonnes to 500MILLION/TONNES
JORC WITHIN A MONTH?
cyril

Disappointing SP on this stock after such a excellent resource update,looks like the market is waiting for the offical Reserves along with news of the 3 interested parties which does make sense. Sold my short term holdings at a healthy 25%+ profit and will reconsider early next month.
cyril

To raise 5m at 50p which is almost the asking price speaks volumes for this project imv?
cyril

Churchill Mining Looks Well Set Up To Bring The East Kutai Coal Project Into Production Within The Next Couple Of Years

By Alastair Ford

Its not really surprising that Churchill Minings most recent fundraising was oversubscribed. The interest was such that the company chose to increase the amount it was raising by 25 per cent, from 4 million to 5 million. And given that 98 per cent of the new money has come from existing shareholders, its clear that Churchill is certainly one story the market has not yet grown tired of. Were a long way from the 2005 2p listing price, and even the share price peaks of around 70p, hit at the height of the boom in 2008, seem once again to be within reach.
The company's strength is derived almost entirely from progress at the East Kutai coal project in Indonesia. East Kutai just keeps getting bigger and bigger, and although the coal price has come off a bit since last year, even at todays prices the studies show that East Kutai will make, according to managing director Paul Mazak, a substantial profit. With a project of such quality Churchill can afford to pick and choose, at least to some extent, how it raises its funds.

But the strong shareholder support shown in the recent raising wasnt just a one-off. In Pala Investments, a Swiss-based private investment vehicle with US$1 billion under management, Churchill has what Paul Mazak calls a very substantial cornerstone investor. Indeed, a brief glance at the CV of Pala chief Jan Castro makes for very interesting reading indeed. Mr Castro was formerly in charge of investments and corporate affairs for Mechel, one of Russias largest coal miners. Should Churchill choose to fund East Kutai all on its own, support from Pala will be the key, and that support will allow Churchill to sidestep the onerous terms that banks and markets have lately been offering to anyone without the most cast iron of funding guarantees.

Still, in any case, although some further funding is a racing certainty, its unlikely that Churchill will eventually choose to develop East Kutai entirely on its own. Its not a question of expertise or skills, says Paul Mazak. The company has that, or at least access to it, in spades. Its a question of off-take. The future buyer of East Kutais coal will also be required to put up some of the development funding. Its as simple as that.

Paul Mazak says that the company is currently talking to more than one possible JV partner, and although the exact nature and timing of any future deal isnt yet clear, talks are highly advanced. You can see why they would be. The time is surely near, given that the full feasibility study on East Kutai is already 20 per cent complete, and that with over 3.18 billion tonnes of coal already in the bag, exploration has now all but ceased. Some development work is actually well advanced stockpile testing and trail mining has begun, a pit has been designed and work on the preliminary mine plan is underway. More importantly from the point of view of de-risking such a project, exploitation licences under the new Indonesian mining law are all in place, as are environmental and haulage permits.

So from an off-take users perspective the time to buy in is surely drawing near: as Churchill gradually ticks all the boxes, dots all the is and crosses all the ts, the price will surely only go higher. And as Paul Mazak says, Palas support means that an off-take deal isnt make or break for this particular project as it might be for some others, so playing a waiting game wont put the squeeze on anyone. What such a partner would be getting is a slice of a potential 20 million tonnes per year operation, due, on current form, to be up and running by the end of 2012, and one which enjoys plenty of support from the government both at the local and national levels. Its an attractive proposition, especially since theres still a lot of untapped value at East Kutai, even if exploration has stopped for now. The next step will be the delivery of the feasibility study, but in the meantime Paul Mazak will be back in London before too long. Hopefully well see him at one of our Minesite forums, where hell have an opportunity to update in person his many supporters in London.

cyril

Tiddler to watch

Churchill Mining rose p to 51p after raising 5 million in a share placing to help to advance the AIM-listed groups flagship East Kutai coal project in Indonesia. The fundraising was at only a slight discount, 50p a share, and was conducted by Blue Oar. The deal is the brokers eighth

Hit 55p earlier this am but a little profit taking?
cyril

Thanks for all the updates cyril, your time and effort is appreciated in keeping us informed

kkeith thanks, i though i was posting to myself?
cyril

I always read your posts cyril even though i don't post much, been in these a long time over 2 years
Keep posting we may be under the radar at the moment but for how long given the work going on behind the scenes

Churchill are presenting at Proactiveinvestors london Forum on the 17th June!

These are really good evenings, set in a lovely hotel in the heart of Mayfair.

Listen to the presentations, then meet and chat with management informally over wine and canapes.

For FREE registration, click HERE


Nearest tube stations are Green Park (5 minutes walk), and Bond Street (8 minutes walk).

A date for your diary!

Thanks Andy i would think some good news coming, no use presenting if they have nothing new to say

kkeith2000,

Agreed. :-)

Creeping slowly but surely higher, 56p and up 10% over the last week. We're half way through the month referred to in the last RNS,so not to long now and as stated, unlikely to present without something new? With confirmation of 500m.tonne of reserves already expected,perhaps a JV?

A lot of repetative posts covering old ground,so i thought i try using some of the knowns and assunptions to break it up a little with some rough calcs.

Assumming the £8 a share offer was on the table and rejected by the BOD,who wouldn't recommend anything less than £10/share?

Now taking 850,000,000 shares at the time,then i come up with the various values.
Using 0/5%/10% aquired by the bidder at an average of £1.5/share.

At £8 = £6.8billion for 100%
5% 63750,000 + 6460,000,000 = £6523,750,000 total
10% 127500,000 + 6,120,000,000 = £6,247,500,000 total

100% at £10 =£8.5billion

Increase shares on offer to 900,000,000 and assume 20% holding to £2/share average and increase offer to £10.

£360,000,000 + 7200,000,000 = £7580,000,000 total

Increase the holdings to 30% at an average of £2.5/share.

675,000,000 + 6,300,000,000 = £6,975,000,000. total

Another top up for PALA bring their total to 29.36%,stopping just 0.64% short
from a compulsary take over offer?

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9315087/Afren-shareholders-revolt-over-pay-for-the-third-year-running.html

Ticking up nicely this am, within a week of the month for reserve confirmation. 2
presentations due shortly, 1stly Minesite on the 16th followed the next day by
the 2nd to Proactiveinvestors.
cyril

Say that the SP went up to 480p without a bid,how many would sell? Quite a few will at least heavily top slice,going by the rumblings of those who missed the last spike,therefore missing the real value that GKP represents?
If i understand correctly,any bid once formal has to be honoured,so jumping at the 1st offer is unwise imho.In fact hanging on to the end will bring the full rewaeds.

cyril,

Yes i am anticipating news before the Minesite presentation on Wednesday morning, and will be suprised if they haven't announced the JORC by then.

Thge Proactive evening has FML as well, and is booking well, so i would advise people that are considering attending booking whilst it's open, as they may close it soon.

Their last event set a new record, and this one will exceed that, and there is a limit on the room.

Is anyone here planning to attend?

Andy did you attend the presentation yesterday and are you planning to attend tonight
Am unable to go to either, a little far to travel for me
I wonder if it will the same the presentation at both

kkeith,

Yes it was!

Here is a recent interview with Paul Mazak, which you should find interesting!

Click HERE

Thanks andy
Nice move up this morning, can't be too long now for some new's

kkeith,

No he said around a month, but then confused things by mentioning "September", but he may have got his wires crossed as he was fired a barrage of questions by an inquisitive audience.

The powerpoint presentation from the evening can be viewed HERE!

Thanks again Andy
The part conveyor system looks impressive but at a cost
I do hope they get funding for that project

Somethings up, over 250,000 traded so far today compare that with just
above 12,000 monday. Is this the official news of resource/reserves we have been expecting?
cyril

Trading volumes are an indicator cyril, lets see what the rest of the week holds

In responce to several e-mails, PM the CEO has confirmed the awaited
independent reserve report(which has been hinted at 500m/tonnes)will be relesed "this week". So if for once he lives up to his word then tomorrow or friday,this should see 10%+ imho, not bad for such a short time scale and will also make it a good long term investment.
aimho
cyril

hmm! .... doesn't look that exciting to me ..... small cap at 47m and non-SETS so sp totally controlled by MMs ..... very small volume 55k and average is only 250k and current spread is 3p - i.e. if 10% move, then little more than b/e

just as importantly, it would seem that these guys don't deliver on time, so all yours!

OUCH,an update which is not we were led to believe.
Taking a long term view it's quite a good one ,with further news next month.But all in all i'm disappointed with the CEO who's over optomistic forecasts leave a bitter taste in ones mouth.


Dear Sirs,



As a regular passenger on the Caerleon Bus Route to Newport, I speak to many people, all of whom are unhappy with the new Bus timetable.



I was discussing the timetable with a driver and that we seem to get 3 buses coming at the same time and this happens on a regular basis throughout the day. He said that suggestions were more than welcome. So I knocked around a few ideas without too much success, I then tried a different approach and hope that you feel it has merit? It would require altering the routes somewhat along with times, but I believe will offer a evenly spaced service throughout Caerleon, whilst still using the same number of buses.

Here is my suggestion.

The No27 bus route altered,

Lodge Rd,turning up Lodge Hill (no Homefarm/Trinity View)before continuing on it's present route,this would become a 20 minute service.

The No. 28 bus,now takes the Riman Way routeof the 28B(cancelled).

To continue after Roman Way and cover the Homefarm/trinity route,continuing on to Newport(via College Glade)this to run every 30 minutes.



The 28B will ceaseto becomebecoming the third 27.

The 29/29B tocontinue as normal.

Having travel on the 27 a time of 5/6 mins is the norm to cover the Homefarm/Trinity View passage.

This would reduce the 27's time by 6mins and increase the 28's by the same.

As a frequent user of the 28B, i feel their is plenty of slack to allow it to make good the extra minutes.

So my efforts at a possible timetable,would be as follows.

From the hour 00

29/29B 00mins


27 00-10 00-30 00-50mins

228 00-15 00-45

Making a running table of

00-00/ 00-10/ 00-15/ 00-30/ 00-45 00-50. Leaving from the Bus Station.

6 Buses to the hour,same as present.


I believe that the benefits of this reworking of the buses would be a timetable that will give drivers a realistic chance of keeping to their schedules, giving passenger a more reliable service and hence improve customer satisfaction, as well as being less stressful for the drivers. The 28B would provide a better service, catering for most Caerleon residents and there would also be more chance for the village passengers to get a seat.



No timetable is perfect, as you know, and I am aware that this would mean one less bus going directly into the University, however, the students could always catch the 28b at Station Road;they are quite comfortable in walking to the university from this stop,or/also the Double Deckers could be employed,therefore increasing the capicity.
The extra time on the bus for those catching a bus at Roman Way,would be compensated by an extra bus per hour.



Finally, there is the issue of the late night scheduling which sees 4 of the last 5 Buses using Lodge Road route, a clear imbalance, which is a safety concern for those of us who live on the College Glade/Ponthir area. We are forced to walk a fair distance in the cold, wet and icy conditions, in the dark, which is dangerous as the street lights are now turned off about 9.30pm, This imbalance leaves passengers open to the elements as well as the safety issue at such hours, and what about those with health conditions that make it difficult if not impossible to walk that far, and hence they don’t go out as they cannot get back due to the lack of buses on their side of the bus route? This problem could be rectified by routing the 11 pm bus via the Star, giving a 3:2 balance on the last 5 buses of the night.



I do hope you consider my suggestions, but I realise that there is a lot more to planning such routes and I am aware the above suggestions are subject to traffic restrictions, but I thought I would give you a foundation to work with.

timely yellow flag i put out yesterday then!

Patience rewarded,took a nice little profit,this is getting close to news.
Over 700,000 traded today so far,unusually high???
cyril

http://www.youtube.com/watch?v=Op6DTpDE3_k

SH-1 and SH-3: Both close to the green blob labelled Shaikan-1B
SH-2: Shaikan-B Location (around 9 km east of SH-1/3)
SH-4: Shaikan-D Location (around 6 km west of SH-1/3)
SH-5: Shaikan-G Location (around 15 km north-east of SH-1/3)
SH-6: Shaikan-C Location (around 18 km east of SH-1/3)

http://www.platts.com/IM.Platts.Content/insightanalysis/podcasts/oilmatters/archive/2011/nov/oilmatters111711.mp3
http://www.w3schools.com/quality/quality_readability.asp


Anyone who really does not like web backgrounds can go to the

TOOLS

menu at the top of the page and click

INTERNET OPTIONS

then near the bottom of the GENERAL tab click

ACCESSIBILTY then check on any 1 OR MORE of the 3 boxes in the FORMATTING
section.

You can experiment with these to find the background that suits you best

You can also change FONTS to suit yourself.

You can then change backgrounds in Desktop (right click) properties, (or personalisation/windows colour/advance appearance settings/window
on desktop menu in Windows 7)


its TOOLS on the internet menu bar not on the ADVFN page

If you dont have it go to top of page and right click. Click Menu Bar option
http://gkpinvestor.proboards.com/index.cgi?action=display&board=tavern&thread=126&page=1#ixzz1q8RB8TnU
http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AGKP.L&it=le&action=detail&id=9602854
http://www.spegcs.org/attachments/studygroups/5/2009_06_PFC%20-%20Expanding%20Knowledge%20Workshop%20Session%202%20-%20SpeakingOilGas.pdf

10000000000 *.25 = 2500000000 * 4.4 = $11,000,000,000
10000000000 * .75 = 7500000000 = .5 = $3,750,000,000
So $14,750,000,000 * .51 = $7,522,500,000 * .648 = £4,874,580,000
£4,874,580,000/9000000000 = £5.416p / share * 1.8 = £9.74
http://seekingalpha.com/article/739961-gulf-keystone-petroleum-what-is-the-14-billion-barrel-shaikan-field-worth

CHURCHILL MINING PLC

('Churchill' or 'the Company')

PRE-MINING RESERVE JORC CATEGORY UPDATE

Highlights:

Measured and Indicated Resources on target area exceeds 1.3 billion tonnes

Initial JORC Reserve category expected within 6 weeks

EKCP Feasibility completion date still on target

Churchill Mining PLC (AIM: CHL) the Indonesian-focused coal mining company with more than 3 billion tonnes of thermal coal, is pleased to announce a substantial Pre-Mining Reserve upgrade of the JORC resource categories for the East Kutai Coal Project ('EKCP').

Ongoing analysis by its independent advisors, SMG Consultants ('SMGC'), on 46,000 metres of drilling and a variety of other geological and physical data, including topographical surface survey, outcrop and drill hole collar surveys, outcrop and drill hole lithology, drill hole geophysical logs and coal quality data on 134 open holes and 233 cored holes, has resulted in a major upgrade to the JORC resource categories at EKCP as follows:

Current Measured Resource:
556 million tonnes

Current Indicated Resource:
777 million tonnes

Total Measured and Indicated Resource:
1,333 million tonnes

Current Inferred:
1,148 million tonnes*

Total Current Categorised Resource:
2,481 million tonnes
cyril

Astaire have a note out, talking of EPS of 26p to June 2011.

*************************************************************

Churchill has announced that it has upgraded the East Kutai resource
confidence with now more than 1.3Bt of the 3.18Bt global resource being
classified as Measured or Indicated. The company is planning to release an
initial reserve statement in early October, whereby we anticipate a
significant portion of the Measured and Indicated resource to be converted
to reserves. With an initial reserve statement and feasibility study due
before the end of 2009, there is plenty of upside potential in the Churchill
share price.

! Over 1.3Bt of Measured & Indicated Resource: By any measure of coal
properties, this is a big well-defined resource. The large proportion of
Measured & Indicated categories demonstrates the robustness of the
resource.

! Reserve Statement in October: Based on the large Measured & Indicated
resource, we are hopeful of an initial reserve in excess of 1Bt. At the
proposed production rate of 20Mtpa, this would translate into a potential mine
life of more than 50 years. A large reserve may also result in a larger scale
development as a second stage expansion.

! Feasibility Study on Track: The company has announced that 80% of the
engineering work has been completed and the feasibility study is on track for
completion by the end of 2009. Most of the site work has been completed,
with the focus shifting to the conveyor route and port site.

! Financing Discussions Underway: Churchill is assessing in parallel three
mechanisms for the financing of East Kutai, including:
o A standalone development comprising debt and equity
financing,
o A joint venture with a strategic partner, or
o The potential sale of the project based on a true value of the
project.

Of significant note is the size of the Measured and Indicated resource at 1.3Bt. For reserve studies, it is worth remembering that only Measured and Indicated resources can be converted to Proven and Probable Reserves under the JORC code.
It is therefore not unrealistic for us to expect that the initial reserve statement for East Kutai, expected in early October, could be in excess of 1Bt. Assuming an ore:waste strip ratio of around 1:1, this would indicate a potential pit size in the order of 1km x 10km x 100m.
To give some relative scale to this in London, it would cover an area the width of Hyde Park from Fulham to Tower 42 in The City, or alternatively, half the area of the City of Westminster.

At the current proposed production rate of 20Mtpa, this equates to a mine life of greater than 50 years. With this in mind, we would also expect the consultants managing the feasibility study to be looking into ways to accommodate further increases to the production rate down the track.

Indonesian Comparatives
Whilst the scale and proposed production rate of the East Kutai Project is
significant, it is comparable to other large Indonesian coal projects and highlights the fact that projects of this scale can and are being developed.
Three of the largest coal producers in Indonesia are shown on the table below:

Company / Project / Resources / Reserves / Production Rate / Comment
PT Bumi 10.7Bt 2.9Bt 60Mtpa Planned increase to 111Mtpa by 2012
PT Adaro 3.4Bt 870Mt 38.5Mtpa Planned increase to 80Mtpa
East Kutai 3.18Bt 1Bt expected 20Mtpa planned
Banpu 2.14Bt 600Mt 18.5Mtpa Mkt cap just under �2B

Mine and Infrastructure Planning
Churchill has also announced that the feasibility study work is proceeding as
scheduled, with a completion date still planned for late 2009. The engineering
studies are 80% complete with most of the site work also completed. The focus
has now moved to the proposed conveyor route and port location, where
geotechnical drilling will be undertaken.

Financing Update
In parallel with the feasibility study, Churchill has initiated discussions with potential financiers and advisers as to the optimal way of financing the
development of East Kutai. The company is assessing a standalone scenario with
financing via a combination of debt and equity, the introduction of a new joint
venture partner that will be able to contribute to the majority, if not all, of the funding requirements or, alternatively, Churchill is also considering a sale of the project.
We believe that all of the above scenarios are feasible, even given the expected US$500m capital expenditure cost. As has been demonstrated with groups such as Fortescue Metals Group in Australia, there may be an appetite for the project to be funded by a combination of equity and the issue of bonds.

The introduction of a strategic joint venture partner is appealing in that: a) it validates the project and the work completed to date; b) it provides Churchill with access to a large amount of low cost finance; and c) it provides Churchill with a sales platform for marketing of the coal. We expect there to be a significant amount of interest from Chinese and Indian groups in securing a foothold on a very large coal project such as this.

The potential sale of the project is interesting as it provides Churchill with a mechanism to realise the value of the East Kutai project, noting importantly that the work to date covers only 30% of the license area, leaving the company to replicate its efforts on the other 70% of the license area as well as providing it with a significant cash return. A sale amount in excess of US$300m is feasible in the current market for a project of this size, and the potential sale could, notably, be made at multiples of the current market capitalisation of the company.

*******************************************************************************

As a regular customer for many years i'll will be sad to see them leave,they have transformed the pub,working hard in doing. It is now a place where i feel comfortable in taking my family,which was not always the case previously. They have put tigather an excellent team,who make you feel welcome.
I wish them well and hope they enjoy their new life,they will be a hard act to follow.

CHL up 9% today rewarding patience,with news on the horizon a steady rise would be nice and looking for 80p nce the results are out?
aimho
cyril

Patiencr is a virtue and rewarded,70p and climbing.
cyril

Well 73p up from 43p less then 8 weeks ago,as with many such companies patience is required. Good research and a longer term view always made this a
Core Stock to hold imho?
cyril
ps not sure if i'm talking to myself, hmm?
"nice one cyril" lol

Hi Cyril, Don't worry you're not talking to yourself. Like you I hold this share and think that it is one worth holding onto. Best wishes, Clive.

Thanks for your responce,comforting to know. Results can't be that far off now and should bring this to notice of a wider circle? What will add spice to the company will ge a BFS which could be by end of year?
cyril

Just in and a happy chappy,all time high bring new support levels.Might evewn break 1 on resource update?
cyril

Hi Cyril, Still doing well and hopefully a resource update could push further as you mention. Being now retired I have been investing since early this year and was lucky enough to get in at the bottom of the crash (I stress lucky as I believe that good/bad fortune plays a large part in life) and I always liked this share/company even though I know one should have a detached approach to investing..?? I lived/worked some time in the Far East (Borneo) and know from personal experience that that area has great potential with industrious people and natural resources. I also have invested in Fortune Oil as I feel that the big picture looks promising there also. Being new to investing I am still learning the ropes as I go along (by the way what do you mean by BFS on earlier posts?) so I mainly try to judge things on the 'Big Picture' so to speak without too much attention to the nitty gritty - although I realize of course that basics do count. Best wishes Clive.

Good morning Clive.more news.BHP are rumoured to be tying up with CHL(ref. The FT today?) and seems to be the reason for the sudden rise? The resource update will hopefully add to SP,if as good as expected?
cyril

Just bought into this one today....like the last rns and the bid rumour in the FT could have some foundation........definitely worth a look ....IMHO

The Company notes recent press speculation together with the increase in its share price and advises that it has received three separate and unconnected non-binding approaches, all of which are at various stages. Two of these approaches relate to the possible acquisition of specific projects within Churchill, and the third relates to a possible offer for the Company as a whole.




The Company will continue discussions with all three of these parties, which may or may not lead to one or more offers for the Company or certain of its projects. The approaches are conditional on due diligence and at this stage there is no certainty that any will progress to completion.





The Company would also like to clarify that there is no basis to the speculation in the press linking the Company to BHP Billiton.

cyril

Not exciting enough?? Well theirs going to be plenty of excitement today.
cyril

Can we come round to your house as well cyril?? lol

BB of course,4th rock from the ?
Could this be one of the "interested parties"?

Sept. 9 (Bloomberg) -- NTPC Ltd., Asias biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine purchase in Indonesia, the Indian companys first overseas acquisition.

We appointed Macquarie about 15 days back and they have already started due diligence, Chairman R.S. Sharma said in an interview at his office in New Delhi. He didnt give details.

Indian utilities are seeking thermal coal assets overseas to plug a local shortfall as the country almost doubles generation capacity in the five years to March 2012. State-owned monopoly producer Coal India Ltd. said last month it will invest $1.5 billion to acquire mines abroad to help overcome a shortage of an estimated 228 million metric tons a year by March 2012.

cyril

Quite increditable, been out all afternoon golfing,checked in and absolutely no interest? Todays RNS is as near as good as it gets,here's a report summing it up.

Churchill Mining climbs after bid approaches



Coal group Churchill Mining has admitted this morning it had received no less than three separate approaches, but at the same time it denied speculation linking it with BHP Billiton.

It appears two of the approaches are for specific projects, while the other could lead to a full takeover of the business. Fairfax analyst John Meyer said Churchill's projects had attracted attention as the demand for coal increases, and suggested the company needed a strong partner to move forward. It has a large coal project in Indonesia and also owns a 20% stake in Spitfire Resources, which acquired the South Woodie Woodie manganese project in Western Australia.

News of the approaches has certainly lit up Churchill's shares - BHP or no BHP - and they have climbed 9.5p to 94.75p. BHP, meanwhile, is suffering from the general malaise in the rest of the sector, down 15.5p at 16.77.

I just don't know what more one expect,reserves maybe but there not to far away?
cyril

Cannot believe that this has not been marked up as much as it was. IMHO this share is still cheap at the present price. I can see some mention in the press overnight and then lets see what tomorrow brings........on other boards talk of bids around 150 are doing the rounds........lets hope so and if it stays low early on time to top up methinks..!

Market beginng to understand CHL at long last,up almost 25% since yesterday,on top of the recent 100% rise. Remember their are "3" interested parties in all or part of our projects.
cyril

RNS delay in issuing reserves statement?

Cheers halifax,this is the statement.

Indonesian coal explorer, Churchill Mining says that the initial reserve statement that had been expected for the East Kutai Coal project at the end of November will now be released early, some time later this month.

cyril

Not a delay, actually being brought forward from Nov to later this month.
I read earlier on another board that someone had spoke to the CEO, who
expected the results on the 14th,whatever within 3 weeks??

-----------------------------------------------------------------------------------http://www.youtube.com/watch?v=0QUsVDWd2js-

http://www.youtube.com/watch?v=bWZ28gibyzw

http://www.youtube.com/watch?v=0QUsVDWd2js

http://www.iog.org/Resources/IOG/Migrated%20Resources/Documents/untitled5.pdf

http://www.valebowlingclub.co.uk/bowling_green_maintenance.htm

RNS states reserve update was due 6 weeks from 26th August and will now be announced later in October.

Halifax you are correct and i was surprised at the time of reading my posted version. If you go to the AM news you will see that that i c&ped from it.
This from abother ptovider,
Churchill Mining PLC (AIM: CHL), the Indonesian-focused coal mining company, announced on 26 August 2009 that an initial reserve statement was anticipated to be available within approximately 6 weeks for the East Kutai Coal Project. The Company and its Indonesian partners now anticipate that this reserve statement will be announced later in October.

------------------------------------------------------------------------------------------
We,ve experienced this delay several times now and will of course leave one thinking "when i see it?".However its still hughly undervalued imho and once we do evenually get the results "whoosh", unless it of course climbs steadyly in the meantime?
cyril
ps. Don't forget 3 bids which could be, what this delay is all about???

Agree will be worth waiting for.

Hi Cyril/Halifax, I am a little surprised that there seems to be so few of us on this board considering the recent price performance and news from Churchill...??
I bought into this share around 50p and still being somewhat new to the investing game (if one can call it a game..??) I am starting to get a little twitchy now that my stake has doubled.
Although I have already learnt the hard lesson of getting out of a share too soon in that I recently sold POG and WCC after what appeared to me as reasonable gains (about 50%) only to see them both carry on shooting upwards.
Do either of you have any personal view about what one could expect as a reasonable ceiling for this share - I appreciate that 'personal views' are just that (i.e. personal) and that we all have to make our own call so to speak but would still appreciate hearing your thoughts. Clive

Thanks BB,Clivefor your thoughts.

How far can CHL go,well i'm expecting min of 150p(s/term) and hopefully a lot more? We're waitng for the v/importent independent resource update which could be 250/750mtones of thermal coal(expected in the next 2 weeks) and a BFS(bankable feasabilty study)by early 2010(ex/importrnt)along with that, 3 bidders,2 for part of and the other for all of CHL
Its not just t/coal we have at Sandiwar a excellent CBM(coal based methane) prospect and a stake in a manganese mine in Aust.
So more 2/3 for me,if uncertain top slice,take some profits and allow the rest to run.
cyril

Niceonecyril,

Sandewar is ONLY a CBM project I believe, the coal is too deep to be economic if my memory serves me well.

Andy i was refering to S/W/Woodie for manganese.
Finals out, part of.

AL RESULTS FOR THE YEAR ENDED 30 JUNE 2009




OPERATIONAL


East Kutai Coal Project (75%) Indonesia


* EKCP JORC-Code compliant resource of 2.5 billion tonnes was significantly
expanded from 1.4 billion tonnes;
* An additional 618 million tonnes undergoing additional assessment to further
increase the global resource to in excess of 3 billion tonnes;
* Mining permits secured from the Indonesian Government and project licences
changed to reflect new Indonesian Mining Legislation;
* Numerous project design and engineering milestones completed;
* Feasibility Study nearing completion with results due in December 2009;
* Project financing discussions commenced with various finance institutions and
potential joint venture partners; and
* Discussions in place for potential off-take agreements with power companies such
as PT Cirebon Electric Power.

Sendawar Coal Bed Methane (70%) Indonesia


* Discussions ongoing with international oil, gas and Coal Bed Methane companies
for the provision of technical assistance, off-take agreements and potential
joint ventures.

South Woodie Woodie Manganese (20%) Australia


* ASX-listed Spitfire Resources Ltd (CHL 25.5% owner) confirms the interception of
manganese at the Tally-Ho prospect at South Woodie Woodie in Western Australia,
with an initial JORC compliant resource delineated

Corporate


* In May, the Company successfully raised GBP 5 million through the placing of
10,000,000 new shares at 50p per share with predominantly institutional
investors. The placing was oversubscribed and the 50p placing price did not
reflect a discount to the prevailing share price at the time.
* In March, the Company announced the appointment of Mr. Jan Alex Castro as a
Non-Executive Director, who brings with him a wealth of experience and expertise
in financing for mining and natural resources companies globally.


Financial


* In line with expectations, the full year loss was US$ 14,089,527 or US$ 0.2076
per ordinary share primarily reflecting investment into EKCP.
* The Company currently has a strong cash position, with cash reserves at the end
of June totalling US$ 10.9 million to continue development work at the EKCP.



For further information please contact
Enquiries:
+--------------------------------+-------------------+------------------------+
| Churchill Mining Plc | Astaire | Pelham PR |
| Managing Director - Paul G. | Securities | James MacFarlane / |
| Mazak | Shane Gallwey | Charles Vivian |
| +62 81510539186 / | +44(0)20 7448 | +44 (0) 20 7337 1500 |
| + 62 21 39832398 | 4400 | or |
| paul.mazak@churchillmining.com | | +44 (0) 7841672831 |
|
cyril | | |
+--------------------------------+-------------------+------------------------+

Contact with the company(3rd party) has confirmed that the JORC will be released this week, that bid negotiations are well advabced and expected to be finalise within the next few weeks???
Thinking of taking somemore at this SP.
cyril

Well here it is, and its "BIG".


, 2009

7

26 October 2009 CHL: AIM
CHURCHILL MINING PLC

INITIAL MINING RESERVE STATEMENT AT EKCP

Highlights:

Initial JORC Probable In-Situ Reserve of 956 million tonnes for the East Kutai Coal Project ("EKCP")
Low cumulative strip ratio of 3.6:1
Current Feasibility Study enters final phase

Churchill Mining PLC (AIM: CHL) the Indonesian-focused coal mining company and its Indonesian partners the Ridlatama Group, are pleased to announce a JORC Probable In-Situ Reserve of just under 1 billion tonnes of thermal coal for the EKCP, in which Churchill Mining has a 75% interest.

The JORC Reserve Report, compiled by independent coal geology and mining specialists SMG Consultants ("SMGC"), defines an initial JORC Probable In-Situ Reserve of 956 million tonnes of thermal coal at the Company's flagship project in Indonesia. This reserve statement follows the resource upgrade in August 2009 of 1.33 billion tonnes of coal into the JORC categories of Measured and Indicated, from a total global resource of over 3 billion tonnes. The SMGC Reserve Report also describes a comparatively low cumulative average strip ratio of 3.6:1, which should result in excellent project economics.

Feasibility Study

The Company continues to move forward on the current feasibility study and other work associated with the project.

Tenders have been issued for all the main components of the project including the port and its facilities, the conveyor system, service road and power plant, along with all the relevant requirements at the mine site. All bids are expected to be in and reviewed before the end of 2009 so that the feasibility can be completed and the JORC Proven Reserve defined.

Churchill Mining's CEO Paul Mazak commented:

"We are extremely pleased to report the initial reserve statement for the EKCP. This is a significant milestone for Churchill and its Indonesian partners. The size of the initial reserve, at just under a billion tonnes, demonstrates the world-class size of the project.

The Company believes that a project of this scale and magnitude is extremely attractive to end-users of thermal coal, particularly in India and China. With the value of EKCP being enhanced by the strategic location in relation to the ever-growing Asian coal markets and combined with the steady progress that has been made technically on the project, it is likely that the interest in the EKCP will increase".

JORC STATEMENT

This reserve statement completed during October 2009 has been prepared in accordance with the JORC Code 2004.


in accordance with the AIM Guidelines, Mr. Keith Whitchurch of SMG Consultants, is the qualified person that has reviewed the technical information contained in this release.

the information in this statement relates to Coal Reserve of the East Kutai Coal Project and is based on information compiled by Keith Whitchurch, who is a Member of the Australasian Institute of Mining and Metallurgy, a Chartered Professional Mining Engineer and a Registered Professional Engineer (Queensland). Keith Whitchurch is employed as a Principal Engineer by PT SMG Consultants. Keith Whitchurch has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves". Keith Whitchurch has over 25 years experience in planning and mining of coal deposits.

cyril

Most surprised at the responce to the latest update and represents a great buying opportunity imo,this news so so de-risks the project. Reading the chairman's statement i feel he's telling us who the possible bidders are?
100k just gone through,seems what we have is beginning to dawn upon the market?
aimho
cyril

Hi Cyril,
Like you I was a little surprised at the rather muted response to this positive announcement but as I had decided to hold long term I am not too concerned as I feel sure that it can only go from strengthen to strengthen as time goes on.
I had thought about top slicing but decided to stay fully committed (glad I did now) as I'm thinking to make this a main/long part of my folio along with SKR, AST,AEX, PCI, MONI & FTO from my others - but am not totally sure about the last two..??
Clive.

Hello Clive,a muted responce indeed,although ticked up towards the end.The news which will drive forward this stock should be with us shortly,of course the bids i refer too.3 is not unresonable for the EKCP alone and by doing some simple calcs
helps prove it's worth.
total of 92m(with warrents)max shares and 956m/tonnes of coal,of which 75%
belongs to CHL.
956*.75 == 717/92 = 7.8tonnes per share at a very conservative $0.5/tonne
thats $3,9 a share
3.9* 0.6122 = 2.38p + 7p cash = 245p
The very valuable Sandiwar CBM project and Manganese resource(20%),all this makes ita no brainer imho?
Past experience has taught me a little caution so i have stopped myself throwing the kitchen sink at it(lol) and will be happy with a nice earner to add to my pension.
Looking at your portfolio i have,
SKR which looks like a surefire thing.
AST which has great assets but need the big ones to prove up so more Spec.
PCI which i've just bought into and look to have an exceptional gas find and provided it 's proven commersal,then very cheap.
The others i no lttle of, so no comment there.
Seems a shame to me that so little interest is shown on here,seeing the
obvious value it is?
cyril
ps should have pointed out that this is for just 25% of the area and this still has
a billion or more tons being proven up?

extract from Guardian
Finally Churchill Mining climbed 8.5p to 113.5p after a report suggested there could be just under 1bn tonnes of thermal coal at the East Kutai Coal Project, where the company has a 75% stake. Churchill recently announced three bid approaches, and traders said the reserves news could prompt one or more of the predators to make a move.
cyril

cyril,

I have heard the bids will be in the 150p - 175p range, and I presume this is for the one licence, though that was not stated.

I would have expected more personally.

Andy thanks for the info,surely not the whole company?
cyril

Cyril,

I hope it's for the one licence, time will tell.

Nice movement last 2 days,high 117p before settling down at 114.5p on good volume.Bid rumour raising its head again?
cyril

Further progress this am,up to 119,5p,tends to rise prior to news?
Turned down 107p 2 days ago as i thought the premium a bit high(3p)on
a t25, doh. Shouldn't complain, as one of my largest holdings.
cyril

Just took 5 minutes on the phone to top up, so maybe not too much stock around?

Could not trade online, even for 3K shares!

Pala now own 25.7m shares which adds up to 33.2%,with one of their people on the board seems to suggest ???
Korea,India and China all showing a lot of interest,a bid for EK can't be far of imho??
cyril

PROJECT UPDATE FOR

EAST KUTAI COAL PROJECT

Highlights:

East Kutai Coal Project Feasibility Study now complete

The study defines a preferred 20 million tonne per annum production rate

Tendering from international groups to build the project's mine stockyard, conveyor, port facility and power station well advanced

Completion of tender process and final review of bids anticipated by end of January 2010

Project commencement anticipated to start in 2010 and be complete by 2012

Churchill Mining PLC (AIM: CHL) the Indonesian-focused coal mining company and its Indonesian partners the Ridlatama Group, are pleased to announce the following progress update for the East Kutai Coal Project (EKCP), in which Churchill has a 75% interest. The EKCP has a 2.481 billion tonne JORC resource of which 956 million tonnes has been classified as a JORC Probable reserve.

Feasibility Study work on EKCP by Churchill Mining ("Churchill" or "the Company") is complete and has identified the potential to exploit the project's thermal coal reserves at a preferred annual production rate of 20 million tonnes per annum.

The Company has put the project's infrastructure items (mine stockyard, overland conveyor, port/ship loader and power station) out to tender and this process is well advanced. To date the bids received have been well under predicted costs due to the resurgence in global manufacturing and engineering capabilities following the Global Financial Crisis downturn.

Churchill anticipates completion of its tender process and final review/evaluation of the bids by the end of January 2010. At this point the Company will be in a position to further inform investors of EKCP's expected capital cost and life-of-mine financial returns.

Churchill anticipates project construction work at EKCP will start in 2010 and will take two years to complete. The Company consequently has applied for all the necessary licences and permits with the relevant Central, Provincial and Regional Indonesian Governments to expedite development.

At site the Company recently began mining a bulk sample for testing at the Australian Coal Industry Research Laboratory in Queensland, Australia, in order for Churchill to advise potential customers of the coal's handling abilities, combustion, boiler performance and other quality characteristics.

Company representatives also recently visited 17 companies on India's East Coast to discuss the project and potential off-take agreements. Churchill came away highly encouraged by the growth profile of future Indian coal demand - it was established that India will need a minimum of 100 million tonnes per annum of new EKCP-styled coal to meet expected future energy needs.

The EKCP Coal Project

Churchill's feasibility work found that EKCP is best exploited at a preferred rate of 20 million tonnes per annum. The coal will be transported from the mine, ultimately made up of three open pits, using a 160 kilometre overland conveyor system comprising eight flights at a speed of 5 metres per second.

The conveyor, which will be powered by a coal-fired power plant using EKCP coal, will be engineered to Australian standards and has been designed to meet varying gradients of topography. Currently four international groups are tendering to build the conveyor in conjunction with more than 40 component companies. Final tenders to build the 75MW power station and associated transmission lines have also recently been received. The Company has also been in discussions with a major automation consultant who will advise on the latest monitoring and control systems for the conveyor and associated infrastructure.

Coal conveyed from the mine will be delivered to a coastal port location which Churchill has identified as the optimum deepwater site to accommodate Cape class ships. The conveyor will feed to a port stockpile with an underground feeder reclaiming system. This ship loader will be built to handle ship loading up to 6,000 tonnes per hour. The Company is now undertaking final bathymetric and wave, wind and tide studies for the future port facility. Tenders for the port piling and coal loader have been received.

Churchill Mining's CEO Paul Mazak commented:

"We are very pleased with the results of EKCP Feasibility Study and look forward to announcing the associated results of our economic modeling early next year. As more data and certainty has been brought to bear on the EKCP project, so too has been the level of interest from the international coal community.

"Churchill is still evaluating how best to generate value for shareholders. Our options include the sale of the project or company, the development of EKCP with a joint venture partner or the financing and implementation of the EKCP by Churchill itself. We continue to have discussions with a number of interested parties and the Company hopes to be position next year to announce the results from these negotiations."

cyril

What a roller coaster day this has been, can't believe we have pulled this back after such a fall
AGM Friday wonder if a little more news in the pipe line

kkeith,

Well if it is, i hope they word it better than the last RNS!

As you rightly say, quite a fall for no bad news, let's hope now the S/B contract period has renewd, normal service will be resumed!

Andy in other stocks i have we have had badly worded RNS which resulted in the same situation we had here,,, slap on the wrists for whoever wrote that lol
If you are going to the AGM any chance of any snippets for us,, also did you notice the large trades reported after hours could these have been sells that caused the fall or a shake to fill the orders

Seems confidence is returning here?
cyril

Churchill gets a mention in FT market report tonight-Churchill Mining was also being closed followed amid speculation that there could soon be a conclusion to long-running takeover talks. In September, the coal miner revealed it had received three approaches: two for the possible acquisition of specific assets, and the third a possible offer for the company. Churchill, which spent most of the day in positive territory, dipped 0.2 per cent at 95p.
cyril

A lot of excitement today with large buys and volume,which could suggest
the long overdue RNS is about to be released?
cyril

Ditto to previous post,only RNSis promised and undoubtability concerns
the Feasablity Study.
cyril

Strong finish and good volume augers well imho?
cyril

A good day cyril hope we can keep the momentum going tomorrow and not drop back like previous risers

Churchill Mining expects to complete the East Kutai coal project feasibility study in the second quarter.

Churchill - and its partner the Ridlatama Group - are developing the project in Indonesia with a JORC Mining Reserve of 956 million tonnes of coal.

Churchill announced in September that it had eceived several non-binding approaches relating to possible acquisitions of specific projects within Churchill.

Churchill says it is continuing to review these approaches, and its options with regard to the various funding and commercial alternatives for the EKCP and is working through an evaluation of these alternatives in order to maximise shareholder value

MM's dropped SP at 1st thing, but back to 100p.
cyril

Rumour of the day

Churchill Mining is trying to dig coal from Indonesia. Despite a delay to a feasibility study at its East Kutai Coal Project there, which has reserves of 956 million tonnes, the shares eased only 2p to 97p. This surprising resilience was rumoured to be down to interest from a big Indian resource company in paying through the nose for one of Churchills assets.
cyril

A nice rise for us today cyril and held on well to the gains at the end,, good volume too


Have a happy Easter and lets see what next week brings

KK a belated thank you for your wishes,hope you had a good easter. The weather alas did't help but seems to be changing at last?
CHL is taking it's time but we look as though things are beginning to movibg?
cyril

April 08, 2010

Coal: The Contrarians Investment

By Joe Hung, Editor, Caseys Energy Report



Imagine the price of gold jumping to US$1,500 overnight... what would that do to the price of junior mining companies? Thats what just happened to the price of coal it jumped 38 per cent in one day!
Coal is dirty, its dusty, and it sends environmentalists into a tizzy. Its also the most rapidly growing fuel source in the world, its broadly distributed with almost 70 countries having economically recoverable resources, and the energy found in it still exceeds that in all other fossil fuels combined.

Whether you love it or hate it, coal will be playing the most important role in global energy supply over the next 50 years and it is the focused investor who stands to profit from this. As far as energy prices go, coal has historically been lower and less volatile than oil and gas.

For developing nations, this makes coal a first pick as an energy source, and combined with considerable deposits, it is simply the cheapest and most convenient thing around. This isnt to say its not important for the rest of the world: in the United States, almost 50 per cent of all electricity generated and 90 per cent of the steel production is fired by coal.

Where it gets really interesting is when we look at the demand for thermal coal (the coal used to generate electricity) from the emerging Asian markets. With looser environmental concerns, the emissions cap threat that is dogging producers in the United States and, to a lesser extent, Canada, is not quite as real here.

India is seeing rising demand even as coal resources shrink, while China consumes almost half of the worlds production of coal each year. With a rapidly expanding industrial sector that needs constant fueling, and cleaner alternatives still too expensive, China and India are out shopping and undeveloped coal resources from Mozambique to Canada are the hot items. All of which makes the companies holding on to these assets prime targets for takeovers and joint ventures.

Adding the sparkle to this rather lucrative picture is that the European and South American companies that were dependent on Asian coal exports are now looking towards North America for exports.

Then there is metallurgical coal. Known more widely as coking coal, it is essential in refining iron ore and the production of steel, and carries none of the environmental stigma that comes with thermal coal. Nor is it as abundant as thermal coal, since only a relatively narrow range of coal rank and compositions make good coking coals.

It thus demands a much higher price. Any industrialized nation has a high demand for steel, and with housing booms and rapid infrastructure development, Japan, China, India, and Korea (to name a few countries) are desperate seeking to fuel their growing appetite.

With the demand for thermal and coking coals becoming red-hot in the strong Asian markets, the team at Caseys Energy Report knows coal is the invisible bull market.

In 2009, Chinas total coal imports tripled, reaching 125 million tonnes, and last month it signed yet another multi-billion coal supply contract. Indias growing negative coal balance saw a record-breaking 80 million tonnes of coal imported last year and that number is set to rise for 2010. The global energy market is set, and the profits are there for the taking.
cyril

Serious break out at,140p,it'll be interesting to see what happens in the coming days?
cyril

CHURCHILL APPOINTS CREDIT SUISSE AS STRATEGIC ADVISOR



Churchill Mining Plc (AIM: CHL) is pleased to announce the appointment of Credit Suisse as a strategic advisor to Churchill with regard to the development of the East Kutai Coal Project. The East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 956 million tonnes and a JORC Mining Resource of 2.481 billion tonnes.



Churchill and its Indonesian partner, the Ridlatama Group, are currently progressing with the development of the East Kutai Coal Project. The East Kutai Coal Project is planned as a 20 million tonnes per annum operation, positioning Churchill to become a major exporter of thermal coal to meet the growing demands of the expanding Asian energy market.



Credit Suisse will work with Churchill to complete a strategic review process, which will evaluate the various options for financing the development of the East Kutai Coal Project, including the development of the project with a joint venture partner or the conclusion of a long-term offtake arrangement. Having completed over $13 billion of Indonesia-related coal transactions in the last five years, Credit Suisse is considered the pre-eminent international investment bank in the Indonesia coal space.



Churchill Mining CEO Paul Mazak commented:



"We are pleased to have retained Credit Suisse as a strategic advisor to Churchill. As the market-leading investment bank to the coal sector in Indonesia, working with leading companies such as PT Bumi Resources, IndoCoal, Adaro Energy and others, Credit Suisse brings a vast amount of experience and expertise to procure the financing for the development of the East Kutai Coal Project."



Credit Suisse Investment Banking Head of Mining, South East Asia, Alberto Migliucci commented:



"Credit Suisse is excited about working with Churchill to maximize the interest that a substantial resource such as the East Kutai Coal Project deserves. Strong energy demand growth throughout Asia, particularly India and China, coupled with regional shortages in power generation capabilities, creates a positive environment for large scale projects such as the East Kutai Coal Project. Credit Suisse looks forward to working with Churchill to determine the best approach for the development of the East Kutai Coal Project."

cyril

new article, click HERE

Churchill Mining A Screaming Buy !

Churchills business plan is to leverage off the growth currently being experienced in China and India and in particular their appetite for raw materials used as feedstock in their burgeoning energy and steel industries.

Churchills growth plan quickly accelerated in 2007-2008 following the discovery of a very large thermal coal deposit (Churchill 75% owner) in the East Kutai Regency of Kalimantan, Indonesia. To date more than 3.18 billion tonnes of coal has been drilled to JORC standard and the project area explored only represents 20% of the Companys total land holding in the Regency.

Read recent RNS news for more detail, the costings are going to be published soon by the company which will give an idea to all bidders as to the value of the company. with several potential bidders for the company and/or its projects Churchill Mining is a sceaming Buy !

cyril

26 April 2010
AIM: CHL


CHURCHILL MINING PLC
("Churchill" or the "Company")

Memorandum of Understanding signed with PLN subsidiary

Churchill Mining Plc (AIM: CHL) is pleased to announce that it has signed a
Memorandum of Understanding ("MOU") with a subsidiary of PT. Perusahaan Listrik
Negara (PLN), the Indonesian state electricity firm. Under the MOU,
PLN-Batubara (PLN-B) will review the purchase of up to five million tonnes per
annum (5Mtpa) of coal from Churchill.This additional coal production would be
over and above the 20Mtpa already planned for mining in the northern area the
project, significantly increasing Churchill's forecast coal sales.

A Joint Study Group will be established to focus on the use of the PLN's coal
drying and enhancement technology ("Licol") for use with coal from the East
Kutai Coal Project. Initial testing on Churchill's coal with the Licol process
has already successfully upgraded Churchill's sub-bituminous coal to coal with
bituminous characteristics, increasing its value.

Upon successful conclusion of the review, PLN-B would build an initial
commercial Licol coal enhancement plant module of 250,000tpa at its cost, to be
followed by additional modules to enable the production of up to 5Mtpa of
enhanced coal.

The MOU with PLN-B is part of the PLN's plans to enter into strategic
arrangements to assist the owners of coal concessions to develop their projects,
as stated by the President Director of the PLN, Mr. Dahlan Iskan, "We offer
direct partnerships to develop coal concessions. In this venture PLN will
provide capital expenditure and royalties to [mining rights] owners."

The current plan for production at the East Kutai Coal Project is for a 20Mtpa
mining operation from the 400Mt of JORC Reserve in the planned northern pit.
The other 600Mt of Churchill's 1 Billion Mt JORC Reserve is located in the
planned central and southern pits. Coal supply to PLN-B would come from the
southern pit.

Churchill Mining M.D. Paul G. Mazak commented:

"We are extremely pleased to have signed an MOU with PLN-B. We view PLN as a
very valuable government partner in Indonesia. Additionally, this provides
Churchill with an opportunity to significantly scale up production plans at the
East Kutai Coal Project by a further 5Mtpa, building on our plans to produce
20Mpta. Importantly, a supply agreement with PLN-B would also mean that
Churchill would achieve its Domestic Market Obligation to supply coal into the
Indonesian market."

"This represents a considerable opportunity for Churchill, as the Company seeks
to assess strategic opportunities to move forward with its EKCP project and fast
track development."
cyril

http://www.youtube.com/watch?v=D7rc_F6JDmQ

Good news cyril, its looking like a world class mine in the making

<
Kk yes looking top class and with Credit Suisse now on board i can see this going from strength to strength. To think i recomended this at 50p abd was told not "exciting enough",well it's certainly getting so now.
cyril
ps, are you in AYM as it looks ready to break out,well worth researching?

No am not in AYM these are my only coal stocks, maybe if these get taken out then i may have alook at some others, at the moment money is tied up thanks

Churchill managing director Paul Mazak commented: �We view PLN as a very valuable government partner in Indonesia. Additionally, this provides Churchill with an opportunity to significantly scale up production plans at the East Kutai Coal Project by a further 5Mtpa, building on our plans to produce 20Mpta. Importantly, a supply agreement with PLN-B would also mean that Churchill would achieve its Domestic Market Obligation to supply coal into the Indonesian market."



In its Morning Report, Astaire Securities called the agreement �an important step forward for Churchill, which has an obligation to supply the domestic market�. �Churchill is moving forward with development of the East Kutai Coal Project, with today�s news potentially adding value, and increasing the attractiveness to potential off-take or JV partners, The broker added.

The East Kutai coal project currently which has a JORC compliant reserve of 956 million tonnes of thermal coal and resources of 2.481 billion tonnes.

There has been plenty of interest in East Kutai in the past few months. Mazak said last week the group has been inundated with proposals for its flagship project, and to streamline this process, Churchill put out to tender the position for a strategic advisor for the development of East Kutai and was approached by 9 investments banks. Enter Credit Suisse, which emerged as the leading candidate through its exceptional expertise in the Indonesian energy markets and impressive track record.
cyril
ps Kk AYM is more iron ore,40%holding in Labrador (LIM on the TSX),
worth doing some research in case funds become available?
GL_

http://www.youtube.com/watch?v=0QUsVDWd2js

Thanks cyril

Buy Churchill Mining (CHL) at 121.5p

Says James Faulkner of specialist small cap website WatsHot.com

Demand for coal is rising fast in the emerging powerhouses of India and China. However, the superpowers of tomorrow have relatively few natural resources of their own; they are therefore embarking on a 'resource grab'. In particular, India is becoming increasingly restive about its coal shortages and its largest power suppliers are exploring opportunities to acquire new sources of production to guarantee their supply commitments. Enter Churchill Mining. The company is developing what appears to be a world-class asset in Indonesia with a JORC-standard mining reserve of just under a billion tonnes, and resources of over 2.4 billion more - and all the signs suggest that could very well get a lot bigger. Big-boy dealmakers Credit Suisse are on board and Churchill has been inundated with suitors. Buy, at 121.5p.

East Kutai

Acquired by Churchill in two stages between 2007 and 2008, the East Kutai Coal Project (EKCP) covers an area of approximately 775 square kilometres. Drilling initially commenced on 500 metre spaced centres to a depth of between 100 metres and 150 metres, rapidly defining a large north/west-south/east trending coal corridor. Coal quality is defined as medium calorific, with low sulphur and low ash content. Following the completion of a GBP10 million capital raising in November 2007, exploration was significantly accelerated with in-fill drilling commencing on 250 metre centres across a 10 kilometre by 4 kilometre high priority zone. A total programme comprising 65,000 metres of drilling was planned, with an initial objective of delineating 100 million tonnes in reserves and 400 million tonnes in resources by the end of 2008. In April 2008 - well ahead of schedule - the company issued its first JORC compliant Mineral Resource statement. The 250 million tonne JORC coal resource exceeded the company's initial target of 100 million tonnes by 150%. The company then followed this up in September 2008 when it announced a new updated JORC resource of 1.412 billion tonnes. Most recently, in May 2009, the company announced that the global resource at the East Kutai Coal Project had more than doubled again to 3.18 billion tonnes of thermal coal. Included in this global resource was the previously reported JORC compliant resource of 1.4 billion tonnes. The balance is expected to be upgraded into JORC compliant categories shortly. Moreover, to date only 30% of the EKCP area has been drilled and the existing resource remains open along strike, meaning it could very well be a lot bigger. A completely new feasibility study is due out in June, and initial results have so far been "very encouraging".

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By any accounts this is a large and well-defined resource. To put things into context here, Indonesian coal miner Banpu has Resources of 2.14 billion tonnes, Reserves of 600 million tonnes and production of c.23 million tonnes per annum (Mtpa); its market capitalisation is c.$4.8 billion (with around $4 billion of that attributed to coal operations). Considering the high proportion of the resource classified as Measured & Indicated, brokers are hopeful that the initial Resource will be in excess of 1 billion tonnes, which would suggest a mine life of 50 years at the target production rate of 20 million tonnes per annum. Getting a project like this into production will require some serious financing (brokers estimate around $500 million). Possible outcomes could include: a mix of debt and equity financing; a joint venture with a strategic partner; or a sale of the project. Even in the project's cu rrent state, broker Astaire believes the company could achieve a sale value in excess of $300 million - significantly greater than the firm's current market capitalisation of just over GBP100 million. Notably, the company was the subject of at least three expressions of interest last September.

And it's easy to see why...

At 20Mtpa and a conservative cash operating margin of $20 per tonne, the project would generate free cashflow of $400 million per annum for at least 30 years. At a more realistic margin of $30 per tonne (based on $45/t revenue and $15/t costs), this increases to $600 million per annum.

Churchill is currently valued at just over GBP100 million.

Click for Full Charting facilities from ShareCrazy.com

Recent Developments

Earlier this month, the company announced it had signed up Credit Suisse to to arrange whatever kind of deal eventually gets done on East Kutai. This is a huge coup for the company. Credit Suisse is the number one player in financing Indonesia's coal industry, having raised a total of $13 billion for coal projects in that country to date. Its most recent deal was worth $1.4 billion, so its interest in East Kutai is a huge endorsement of what Churchill Mining is doing.

Most recently Churchill signed a Memorandum of Understanding (MOU) with a state-owned power generator PLN-Batubara aimed at establishing a coal enhancement plant on Churchill's property and securing an additional off-take for 5 million tonnes per annum (on top of the 20Mtpa already planned for mining in the northern area the project), thereby significantly increasing Churchill's forecast coal sales. This ticks certain boxes for the company in that it enables it to achieve its Domestic Market Obligation to supply coal into the Indonesian market.

*The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. UK-Analyst.com is owned by t1ps.com Ltd which is authorised and regulated by the FSA and can be contacted at 5-11 Worship Street, London EC2A 2BH or on 020 7562 3370.
Recommendation

The bottom line is that Churchill has something that a lot of people want. According to Churchill, India will need a minimum of 100 million tonnes per annum of new EKCP-styled coal to meet expected future energy needs. Given the scale of EKCP, it will certainly come under the radar of power companies operating in India and China. The company's representatives have recently visited 17 companies on India's East Coast to discuss the project and potential off-take agreements. There is near-term upside in the form of the feasibility study due out in June, and, most importantly, the successful conclusion of some kind of deal regarding EKCP. Buy, at 121.5p.

Key Data

EPIC: CHL
Market: AIM
Spread: 118p - 125p (5.6%)


cyril

Some shared info (via e-mail)viafrom large pi holder.

Morning all, received an e-mail from paul over the weekend...just a little snippet..

I can say some things in general:

1) Everything is on track but please remember that this is a huge project and there are many aspects and issues that we deal with everyday.

2) Shareholders should take comfort from the fact that CHL recently raised over $23m in a shocking market and that our No#1 shareholder topped up and
our N0#2 shareholder increased position from 8% to 15%.
cyril

RNS this am,another step in the right direction.
cyril

CHL,(one of my long term holds)a lot of excitement today,on their web site news of an RNS tomorrow? This has now been removed,but it seems the norm
to put site and then hide (for checkung)proir to release?
Theirs a long overdue promised DFS which is expected to positive,so fingers crossed,SP up 5% already.
cyril

One of my lomg term holds seems to be bubbling up,make of this what you will? A bid maybe ?
cyril

From MSB:

Re: Churchill Mining (LON:CHL). The New Thread

Today was what I like to refer to as a 'doubled eged Sunday'. On the one hand there were no plans in the JSO household, allowing a warm sense of comfort and relaxation to wash gently over my personage as I enjoyed my morning toast, on the other hand that left the day free for my good lady wife to announce that the time for shopping was upon us! As the man of the house, the lord of my castle, the ruler of the roost I naturally left my mutterings of discontent until she had gone for a shower....that told her!

Having stamped my authority on the situation and decided that we could indeed go shopping I felt a tingle of excitement rise within me, for the afternoon would provide me the opportunity to continue a running battle with my fiercest of rivals, the rotund deputy manager of the local branch of W H Smith. With standards of shelf management as high as a himalayan drug addict on 'crack tuesday' and an irrational dislike of 'people who read without buying' like no man alive!

Having encouraged my wife to 'take her time' around river island, leaving her deeply suspicious of my motives, I sidled my way upto the entrance of the demons lair and tethered my horse to a nearby rubbish bin.

I entered the 'House of Smith' and made my way to the rather confusingly jumbled section of magazines that play host to the fabled Chronicle and Shares Magazine. As is customary at this point my food friendly foe appeared from the aisleway between copies of Renovation Monthly and Tatoo's For Her. I plundered onward with my quest and scanned the rear pages, where they list the companies reviewed in the issue. Among the usual suspects of BP, Barclays and the flavour of the month junior oilers I spotted it...Churchill Mining pg 40. Praise be to the Gods of mining, they only have an article on Coal and more companies connected with the glorious subject than you can shake a stick at!

I turn to the relevant page as my opponent edges my way, making a tactical pause by the Boating and Watersports section (as if my friend, as if). There amongst the 3 page spread is a two sentence reference to my other child! And its not one of those in your face look at how great these guys are nonsense type arrangements, no no. I am presented with a mere teaser, the kind of thing that makes you want to know what they know.

Now I must admit the exact words escape me, I had one eye on the enemy as you can understand, but it went something like this.

In the 'companies to watch based on M&A news' paragraph Shares Magazine suggest that 'investors keep a close eye on Churchill Mining and sell into any upward movement in the share price based on any bidding that may occur before the conclusion of the bidding process'.

As I say not exact words but close enough I feel and certainly true to the theme implied by the article.

Armed with this knowledge I promptly replaced the magazine upside down and the wrong way round and strode out of the store with an exaggerated bowing of the legs as I went.

I wonder what the good people of Shares magazine have heard! Excited is not even close to what I am.

GLTA and to all a good remainder of the weekend.

Richie

Good article,well worthreading.
cyril

Indias top power utility NTPC is looking into purchasing stakes in two coal mines in Indonesia as it seeks access to the fuel to help end blackouts in India.

NTPC was studying two mines in Sumatra and East Kalimantan, which might together have as much as 1.8 billion metric tons of coal resources, its chairman R.S. Sharma said on Monday.

The purchase could be completed by March 2011, he said, declining to name the mines.

NTPC would seek a majority stake in the mines, Sharma said, also declining to name the current owner. The mine in East Kalimantan may have coal resources of about 1 billion tons and the one in Sumatra about 800 million tons.

The purchase had been delayed because the coal had a high moisture content and NTPC was studying ways to improve the fuels quality, including mixing it with dry coal to enhance the potential to generate heat, he added.

NTPC is among a number of Indian energy companies that are seeking assets across the world, specifically in Indonesia, to meet demand for electricity and petroleum products from factories and households in the worlds second-most populous country.

State-owned Coal India, the worlds largest producer, and Tata Power are among companies already looking to buy mines overseas.

Reliance Power, controlled by billionaire Anil Ambani, is considering investing $5 billion to build a railway and develop coal mines in South Sumatra, Yopie Hidayat, a spokesman for Indonesian Vice President Boediono, said in Jakarta last week.

Essar Group also bought the Aries coal mines in the Kutai region of East Kalimantan, which hold as much as 100 million tons of power-station coal, the company said in a statement on March 25.

Domestic coal supply may not be able to keep pace with NTPCs plans to add generation capacity, said Rupesh Sankhe, a Mumbai-based analyst with Angel Broking. That is sending all power companies overseas looking for mines.

Coal demand in India, Asias third-largest energy consumer, might double from 2008 to 2015 to exceed 1 billion tons, energy consultant Wood Mackenzie said on July 1.

India could face a shortfall of 189 million tons a year by 2015, leading to a two-fold increase in imports, global consultancy KPMG said late last month.

Indias annual coal output of 535 million tons would fall short of demand from power generators by as much as 80 million tons by next year, Alok Perti, additional secretary for Indias coal ministry, said on July 7.

Coal is used to fire more than half of Indias current installed generation capacity, according to the Central Electricity Authority.

NTPC aims to lock-in fuel supplies to feed its rising generation capacity, currently at 32.2 gigawatts, but expects that to rise to 75 GW by 2017.

NTPC expected to import up to 15 million tons of coal in the next financial year as its annual requirement of the fuel could rise an estimated 6.5 percent to 165 million tons, Sharma said.

It is expected to import 12 million tons in the current fiscal year.

Currently, state-trading firms import coal for NTPC. This is a stop-gap arrangement for one to two years, Sharma said, adding that he hoped his firm could directly buy 40 percent to 60 percent of its coal imports in 2011/12.

It is destination coal for us now, he added. We are working all out for that.

NTPC planned capital expenditure of as much as 290 billion rupees ($6.19 billion) in the year ending March 2011, including for acquisitions, he said, without elaborating further.

The New Delhi-based utility would use part of its $3 billion in cash reserves and also raise debt to fund the purchase of mines in Australia, Indonesia and Mozambique that could supply as much as 10 million tons of coal a year, Sharma had said on July 14.

NTPCs shares have declined 17 percent this year compared with a 4 percent rise in the benchmark Sensitive Index of the Bombay Stock Exchange.

They fell 0.5 percent to 195.55 rupees at 12:46 p.m. in Mumbai trading.

Things starting to get interesting.
cyril


03 September 2010

?

CHURCHILL MINING PLC

("Churchill" or "the Company")

Share price movement and media speculation

In response to the recent share price movement and media speculation, Churchill Mining Plc, the Indonesian-focused coal mining company, announces that it has held discussions with third parties regarding East Kutai Coal Project, but no firm offer has been agreed at this time.

Churchill announced the appointment of Credit Suisse in April 2010 to complete a strategic review process, in order to evaluate the various options for financing the development of the East Kutai Coal Project, including the development of the project with a joint venture partner or the conclusion of a long-term offtake arrangement. This strategic review process is ongoing, and the Company will update the market as and when appropriate.

Things hotting up a little cyril, patience being rewarded
The RNS probably just adds more speculation now

kk; Exactly, ref to speculation.
cyril

This exciting invetors.
cyril


Caesars report out on CHL update.


http://www.caesarsreport.com/freereports/CaesarsReportSeptember7th2010.pdf

Thanks cyril not seen that report, it puts a little meat on the bone for us
Still think we can top the recent high of 140p, maybe soon we will find out

KK ,wonder what iomorrow will bring???

cyril


From the ft this evening... enjoy ;-)


Churchill Mining, listed in London, is looking to sell a $1bn coal asset on Borneo and says it has received strong interest from the Indian coal majors, including Coal India, that have yet to complete any deals in Indonesia.

The whole article.

The battle for resources between India and China has arrived in Indonesia, where Asias emerging giants are scrambling to secure the vast supplies of thermal coal needed to fire their electricity plants and power economic expansion.

But a shortage of attractive, large-scale producers for sale and restrictive business conditions are driving fierce competition for assets in the worlds leading exporter of the commodity.



Such long-term commitments show just how eager they are to buy into Indonesia.

Analysts say the model is likely to become more common as India and China aggressively try to make up a shortage of hundreds of millions of tonnes of coal in coming years. It is also a logical fit for their southern neighbour, which is trying to attract $160bn in foreign investment to revamp crumbling roads, power plants, ports and bridges.

Indonesias vast reserves of thermal coal are a cheap and relatively close source for Asian buyers, but government red tape, corruption and a lack of buying opportunities are hampering possible mergers and acquisitions.

Still, there has been no shortage of activity in the sector this year, as India has made strong inroads.

Adani Group, the Indian conglomerate, said in August it was investing $1.6bn to build a railway line and coal terminal in remote Sumatra. That deal, which trumped an earlier Chinese bid, will increase Adanis Indonesian supplies, although it did not say by how much.

Indias state-controlled power generator, NTPC, the countrys largest power producer, also said it aimed to acquire stakes in two, as yet unnamed, Indonesian coal mines.

Tom Aaker, Standard Chartereds chief executive in Indonesia, expects the huge appetite from overseas to drive a wave of buying in the sector in the near future.

They are trying to build their economy . . . so they are looking for a source of raw material and if they can own that source, its even more secure, Mr Aaker told the Financial Times. So, they are coming here all the time saying: Do you know anyone who has a coal concession for sale, because we want to buy it.

And while China and India are leading the charge, Thai, Korean, Italian and Japanese companies are also on the lookout for acquisitions or coal-sourcing deals.

Churchill Mining, listed in London, is looking to sell a $1bn coal asset on Borneo and says it has received strong interest from the Indian coal majors, including Coal India, that have yet to complete any deals in Indonesia.

China became a net importer of coal in 2007 and a shift towards Indonesia followed soon thereafter. In July Shenhua, Chinas largest coal producer, announced a $331m coal project in Sumatra, and last October Chinas sovereign wealth fund injected $1.9bn into Bumi Resources, Indonesias largest coal producer.

Rather than just mine resources, China is building two 150MW power generators, which will supply the local grid. Its a win-win, since Shenhua gets the coal and the local economy gets the power, says Bai Zhongyi, an analyst at UBS.

Shenhua operates power stations and railways in China, and is expanding coal production abroad with the goal of producing 15m tonnes overseas by 2015, up from none last year.

The tie-up between Bumi and China Investment Corp, the sovereign fund, was seen as a further sign of Chinas interest in the sector. Bumi said it expected to sell 13m tonnes of coal to China this year. Chinas coal consumption was almost half of the global total last year, according to the BP statistical review.

It is poised to overtake Japan as the largest importer of thermal coal. India, meanwhile, consumes about 7.5 per cent of global exports, but that number is set to grow. If India ramps up and starts competing with China for resources [abroad], things could get quite heated up in terms of the price, Mr Bai said.

Indonesia recently overtook Australia as the worlds largest supplier of thermal coal. Exports jumped fourfold between 2000 and 2010. Production was projected to rise 7 per cent to 280m tonnes in 2010, led by purchases from China, India, South Korea, Japan and Taiwan, said the Indonesian Coal Mining Association.

The industry as a whole is gearing up for exports, said Rudi Vann, a regional coal analyst for Wood Mackenzie, an energy consultancy, citing the recent investments in Indonesia. We are talking about quite a lot of activity. A major chunk of it is to China and India.


Opened up at 126p.
cyril

The end game maybe not far away cyril, either sell the block or the whole company
Whichever way looking good for shareholders

A snippet from tidays BFS,a lomg time coming but well worth it imo?
cyril


Churchill Mining PLC is an AIM listed (Ticker: CHL) mining company with a significant thermal coal development project located in the East Kutai Regency of Kalimantan, Indonesia, where to date more than 2.73 Billion tonnes of coal resource has been defined to JORC standard. Churchill has a 75% interest in the Project, with its Indonesian partners the Ridlatama Group owning the remaining 25%. Churchill is working with the Ridlatama Group to develop theProject.



The Project feasibility study has been completed and forms the platform for the next stage in the development of the Project and the ongoing strategic process. Highlights of the feasibility study include:



� NPV of US$1.8 Billion modelled over an initial 25-year period

� Pre-tax net cashflow in excess of US$500 Million per annum over the first 20 years of capacity production

� 30Mtpa open-pit mining operation producing high-quality sub-bituminous coal

� Operating cost estimated at US$25.10 per tonne FOB (excluding royalty of US$2.32 per tonne)



In addition to the East Kutai Coal Project, Churchill has interests in the Sendawar Coal Bed Methane Project in East Kalimantan, Indonesia and a strategic holding in Spitfire Resources, who are developing the South Woodie Woodie Manganese Project in Western Australia.

http://www.h7n.org.uk/lottery.html

http://www.youtube.com/watch?v=aOQxbcZkqxA

Thanks cyril our patience is now rewarded, up ,up , and away

Paul Mazak, Managing Director commented, "The completion of the East Kutai Coal
Project Feasibility Study is a significant milestone for Churchill. With the
Study indicating the Project has a pre-tax net present value of US$1.8 Billion,
an internal rate of return of 21% and payback period of 7 years, this confirms
the Project's technical and economic viability. The Study demonstrates that the
East Kutai Coal Project is a world-class thermal coal deposit which is ideally
positioned to supply the growing energy demand from both the Chinese and Indian
markets. With the Study now completed, we look forward to moving swiftly into
the next stage in the ongoing strategic process and bringing this large scale
Project into development."



cyril

Hi keith,yes it's been a long wait but worth it. Hope you pickedup on AAZ which in less than 6 weeks has more than doubled(20p to 50p+)

Great article in proactiveinvestor,read the last line carefully.
cyril


The development of any large asset is going to need big money, he told Proactive Investors.

But theres a lot of money out there looking for good assets and in particular looking to invest in resource assets.

Top of that (resource) list has got to be coal. Certainly, the Indians and Chinese have their own funds to invest in these projects.

Churchill has appointed Credit Suisse to run the process of finding a partner that will help develop and fund the East Kutai project.

Churchill might even countenance the outright sale of the project which makes up two of four blocks in the area.

We are looking to pick up a big brother with a big balance sheet who has sources of funds to develop the project, Mazak said.

We really see no problems with that at all.

LONDON (Dow Jones)--Coal miner Churchill Mining PLC (CHL.LN) Tuesday said it expects to reach a deal to finance the development of its East Kutai coal project in Indonesia by February next year.

Managing Director Paul Mazak told Dow Jones Newswires Churchill Mining and adviser Credit Suisse are finalizing memoranda of information about the project and the next stage will be distributing them to a group of potential partners.

Interested parties include companies, investors and enterprises with close links to the state in India, China, the Middle East, South Korea, Thailand and Indonesia itself, Mazak said.

A feasibility study published last month estimated East Kutai could produce up to 30 million metric tons of coal a year and has a net present value of $1.8 billion before taxes.

The study said it will cost up to $1.6 billion to bring East Kutai into production. The project has a resource of 2.73 billion tons of coal and 961 million tons of proven and probable reserves.

"We have always understood that irrespective of whatever our market capitalization was that we could not do this project alone," Mazak said.

Funding options include an outright sale of the project or a joint venture, Mazak said.



cyril

One of my favorite long term stock,took avantage of recent dip.Take over bid raising it's head once again.

UK's Churchill Mining in talks with Indian power cos to sell asset
24 Jan, 2011, 0533 hrs IST, Nesil Staney, ET Bureau

MUMBAI: UK's Churchill Mining, whose shares are traded on the Alternative Investment Market (AIM), is negotiating with several Indian power companies with the intention of finding itself a buyer, said a senior executive. The company owns thermal coal mines in Indonesia and Australia.

Paul Gerard Mazak, executive director of Churchill, confirmed the plans to sell, and the negotiations with Indian companies, in an email to ET. Apart from large private companies here, Churchill is negotiating with "a couple of state-owned enterprises," Mazak said. He refused to name the companies from India.

The Churchill scrip, which has nearly doubled in the past sixteen months, closed at �105.50 on Friday at AIM. It now has a market capitalisation of around �114 million. The company holds some $23 million in cash. The investment banking unit of Credit Suisse is running the global sale mandate. The Swiss bank's India arm is holding talks with large local power companies , said a banker who has direct knowledge of the development.

Indian power companies are scouting for thermal coal mines in Australia, Indonesia and Africa to boost production in India. Their foreign buys have boosted deal activity in the sector, up 300% in 2010 to $23 billion, a third of the total volume. Prominent deals last year include JSW Energy's purchase of Canada's CIC Energy for $414 million and Lanco Infratech�s acquisition of Australia's Griffin Coal for $750 million.

Churchill was earlier looking for a partner investor to develop the East Kutai Coal Project in Indonesia . It had originally hired Credit Suisse in April last year for this mandate. So far it has not found a funding partner for the project. Indonesia had amended its mining laws in early 2009, allowing foreign direct investment.

The East Kutai project has 961 million tonnes coal reserves and mining resource of 2.730 billion tonnes. Churchill also holds 20% stake in South Woodie Woodie Manganese Project in Western Australia, 22% stake in Australia-listed Spitfire Resources and 70% interest in Indonesia's Sendawar CBM Project. In September last year, the company announced the purchase of land to build a port to ship coal from East Kutai.

The potential deal value of Churchill could be higher than the current market capitalisation, said an investment banker focused on the power sector. The quality of the company's coal and geographical proximity makes it an attractive target for power companies in China and India, he said.

Analysts also predict upside to the stock price. "Churchill is currently trading at around 11% of the company's post tax net asset value for East Kutai," said a recent report by London broker Northland Capital.

http://www.youtube.com/watch?v=3XfOWXGhLEI

Tuesday 25 January, 2011Churchill Mining plc
Strategic Review Update
RNS Number : 0509A
Churchill Mining plc
25 January 2011

CHURCHILL MINING PLC
("Churchill" or "the Company")

Statement Re Strategic Review

Churchill Mining PLC (AIM: CHL) notes the media reports relating to plans and negotiations to sell the Company or its assets.

Churchill announced the appointment of Credit Suisse in 2010 to complete a strategic review process, in order to evaluate the various options for financing the development of the East Kutai Coal Project, including the development of the project with a joint venture partner, sale of the project or the conclusion of a long-term offtake arrangement. There has been a significant response from interested parties in a number of countries, primarily; India, Indonesia, South Korea and South East Asia, and as expected, discussions with potential partners, financiers and purchasers remain ongoing.

Paul Mazak, Managing Director said "Realising the huge potential of the world class East Kutai Coal Project requires significant capital investment and as part of the process, potential partners are undertaking detailed and lengthy due diligence in order to formulate their proposals. We are working with all parties with a view to achieving a result that will maximise returns for shareholders and we look forward to further updating the market in due course."

END

Beggerd belief so little interest in this stock,multi-bagger in the not to distent future imho?

Churchill Mining




Churchill's growth plan quickly accelerated in 2007-2008 following the discovery of a very large thermal coal deposit (Churchill 75% owner) in the East Kutai Regency of Kalimantan, Indonesia.



To date more than 3.18 billion tonnes of coal has been drilled to JORC standard and the project area explored only represents 20% of the company's total land holding in the Regency.



Credit Suisse on board and the feasibility study in the bag, pricing is going to be published soon by the company which will give an idea to the true potential value of the company.



As India, Indonesia, South Korea and South East Asia are completing their due diligence before an outright bidding war for the company breaks out.



Hmm.. Several potential bidders in play for the whole company and/or a joint venture, many would argue Churchill Mining is a highly undervalued stock. A screaming buy in the coal industry for those looking to invest in coal.

Share Mag...

Posted on LSE by Babbler2

291% This is the possible upside to Churchill
Mining (CHL:AIM) were it to trade at a
50% discount to the net present value
(NPV) of its East Kutai coal project in
Indonesia. A 50% discount is the upper
limit of the 20% to 50% discount to NPV
at which resource companies tend to
trade, according to nominated adviser
Northland Capital. And according to our
calculations this targets a 442p share
price for 281% potential upside.
Kutai, in which Churchill has a 75% stake, is the miners main asset. A September
feasibility study estimated the NPV of the mine to be $1.8 billion making its share
worth $1.35 billion. Based on a 50% discount rate Churchills market value should
therefore be $675 million, or at an exchange rate of $1.58 to the pound, 427 million.
Given 96.7 million shares in issue that equals 442p per share..
An Indian publication has claimed Churchills chief executive officer has confirmed
plans to sell the project and revealed talks with Indian companies.
Northland sees significant upside for the shares if Churchill opts for an outright
sale rather than joint venture

Hi Cyril your posts are appreciated thanks

Am just waiting for a good reward for us. looks to have moved up a further gear today

Hi keith,still sometime before we hear of any bids,which will suit me fine. More than happy to wait for next years tax allowence before taking any profits?

An exclusive report from James Faulkner of WatsHot.com

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Although past performance is no guarantee of future success, and some tips have gone down in value, the average gain per tip as at 31st December 2010 across the 23 stocks tipped last year was 73.28%.

In this report, first published last Wednesday on WatsHot.com, the expert tipster takes a detailed look at coal mining and the stocks that could help you take advantage of increasing demand for the fuel. To read more insightful analysis like this from James in his daily column and get two brand new tips each month, join WatsHot.com now.

It may be dirty, but coal is set to return to the spotlight in 2011 as demand for cheap sources of energy heats up in the developing world. Latent trends are currently being exacerbated by the recent floods in Australia which have sent coal prices to a two-year high on the back of supply disruption in the world's largest exporter of coal. The situation is said to be worse than the 2008 flooding when the coking price moved above $300 per tonne for the first time, as the number of mines and transportation infrastructure affected is much greater. For a point of reference, the mines affected in 2008 took at least 6 months to recover from the interruption and return to full capacity. The latest rain comes after the country saw its wettest September/November period on record. In the past few months coal miners Rio Tinto, Xstrata, Vale, MacArthur Coal and Aquila Resources have all declared force majeure in the coal-rich Bowen Basin, allowing them to miss delivery commitments. In the week to 24th December, coal prices at the Richards Bay Coal Terminal in Queensland jumped 14% to an average $128.10 per tonne.

The fact that Australia accounts for almost two-thirds of the global coking coal trade points to continued price spikes in the coming months. Coking coal is a vital ingredient in steel-making, and unlike thermal coal it has no obvious replacement. With demand for coking coal remaining very strong indeed in India and China, and a move to a quarterly pricing system has facilitated higher price levels since it was implemented. The Steel Authority recently agreed to pay $225 per tonne to suppliers, a level that is 74% higher than the price it paid during the year ended 31st March 2010. Broker UBS forecasts that prices will hit $250 a tonne in the second quarter of 2011.

The outlook for thermal coal the form of coal used in power stations also looks bright. A report from Deutsche Bank said prices for thermal coal are likely to be 17% higher than expected because of global shortages over the next two years. The bank predicts that thermal coal prices will reach $118 per tonne next year and $140 in 2012. Here, too, the picture is one of rising demand exacerbated by constrained supply in key producing areas.

Rising prices have proved a catalyst for M&A activity in the sector. The most notable activity of late includes Rio Tinto's 2.2 billion bid for Riversdale Mining's Mozambique operations; Vallar's $3 billion deal to make a mining company from the coal assets of the Bakrie family in Indonesia; and Walter Energy's $3.3 billion bid for Western Coal earlier this year (on which WatsHot subscribers bagged a 180% profit). 2010 saw 27 coal deals, compared to 25 in 2009, with single mega-asset transactions accounting for 15 deals and up 50% on 2009 levels, according to Wood Mackenzie Group. This trend is likely to continue in 2011. Here are a few ideas of how to play it.

Churchill Mining (CHL)

Churchill has a potentially world-class project on its hands in the East Kutai project in Indonesia. Even in the project's current embryonic state, broker Astaire believes the company could achieve a sale value in excess of $300 million significantly greater than the firm's current market capitalisation of 114 million.(Now just 85m!) Whatever the eventual outcome, payback would be relatively swift. At 20Mtpa (million tonnes per annum) and a conservative cash operating margin of $20 per tonne, the project would generate free cashflow of $400 million per annum for at least 30 years. At a more realistic margin of $30 per tonne (based on $45/t revenue and $15/t costs), this increases to $600 million per annum. Recent studies have suggested that the production rate could be as high as 35 Mtpa. Getting the project into production will require deep pockets, with direct capital expenditure estimated at $1.2 billion. However, the company states that it looks forward to "moving swiftly into the next stage in the ongoing strategic process and bringing this large scale Project into development", and discussions with third parties are ongoing.

Risk Warning: The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. Not all comments on WatsHot.com cause an increase in trading volumes. UK-Analyst.com is owned by t1ps.com Ltd which is authorised and regulated by the Financial Services Authority and can be contacted at 3rd Floor, 3 London Wall Buildings, London EC2M 5SY.

Beacon Hill Resources (BHR)

Rio Tinto's $16 per share offer for Mozambique coal developer Riversdale is good news for neighbouring Beacon Hill Resources. The Moatize basin in Mozambique is one of the last undeveloped fields containing potential to produce hard coking coal and Rio's move has brought it into the spotlight. Beacon Hill Resources already produces coal on a small scale from the Minas Moatize mine, and has fully funded plans to lift production in 2012 to over 2 Mtpa (million tonnes per annum), 30% of which is expected to be coking coal for the export market. The firm enjoys first mover advantage in the basin and the current infrastructure is capable of handling the planned ramp-up in production. Broker Collins Stewart expects the shares to be a top performer in 2011. The broker values Minas Moatize at 160 million, of which 68% could be attributable to Beacon Hill, implying a pre-funding NPV (net present value) per share of 55p.

Ncondezi Coal (NCCL)

Also operating in Mozambique is Ncondezi Coal, which is located in a separate basin 26km to the north of Moatize where the presence of coking coal has yet to be proved. The shares rose sharply in December in anticipation of a significant upgrade to the existing 1.8 billion tonne JORC Resource following a recently completed 76-hole drilling programme. Upon completion, the company announced that coal had been intersected on all previously undrilled blocks, and comprehensive results are due to be announced some time in the first quarter of 2011. If coking coal is present in significant quantities then the shares should fly; if not, they will probably fall back. This is therefore an investment for risk tolerant investors only.

Coal of Africa (CZA)

South Africa-focused Coal of Africa recently entered into an agreement to pay a total consideration of $75 million for the 1 billion tonne Chapudi Coal Project, which is contiguous with the firm's Makhado Coking Coal Project. Acquired from Rio Tinto Minerals Development Limited and Kwezi Mining Limited, the Chapudi Coal Project provides the company with an additional estimated 1.04 billion tonne JORC resource (of which 90Mt is Measured, 220Mt Indicated and 730Mt Inferred), which could potentially transform its existing 947Mt Makahdo Project into a major coal mining complex situated in the Soutpansberg Basin. Near-term upside could be provided from the results from the Makhado Project definitive feasibility study due in early 2011, or the results of the bulk sample pit being developed to support the off-take agreement with Arcelor Mittal. The shares traded as high as 300p back in 2008, but the recession came along as well as several operating setbacks, pushing the shares as low as 50p. They currently trade at 110p, and broker Evolution has a risk-adjusted 205p target

Suspension of trading cyril good or bad news, hope this is not another one down the pan for me
Fingers crossed a favourable outcome for us

kk lets hope so,suggestions of lincence issues?

minnow miner linked with singularly corrupt indonesia leads to tribunal rules against Churchill on EKCP licences and an sp that plummets by 70%

3 March 2011 CHL: AIM

CHURCHILL MINING PLC

("Churchill" or "the Company")

Negative decision by State Administrative Tribunal

-- The State Administrative Tribunal in Samarinda, East Kalimantan ruled on 3 March 2011 against Churchill Mining Plc ("Churchill" or "the Company") and its Indonesian partners, the Ridlatama Group ("Ridlatama") in regard to an attempt to cancel the EKCP licenses

-- The decision by the Samarinda Administrative Tribunal is not final and binding as a matter of law until after all appeal avenues have been exhausted

-- The proceedings before the Samarinda Administrative Tribunal do not constitute an action that will immediately affect the legal rights of the owners of the EKCP Licenses

Churchill Mining (AIM:CHL), announces that the State Administrative Tribunal in Samarinda, East Kalimantan has today ruled against Churchill Mining Plc ("Churchill" or "the Company") and its Indonesian partners, the Ridlatama Group ("Ridlatama").

Under the Indonesian legal system an Administrative Tribunal is supposed to rule strictly on matters of process as to whether bureaucrats, elected officials, and government institutions have observed procedural rules and regulations in making decisions. The proceedings before the Samarinda Administrative Tribunal do not constitute an action that will immediately affect the substantive rights of the owners of the EKCP Licenses and the decision by the Samarinda Administrative Tribunal is not final and binding as a matter of law until after all appeal avenues have been exhausted.

The Company strongly disagrees with the decision and is currently evaluating options to remedy the situation, including appeal to the State Administrative Tribunal in Jakarta. At no time during this process has Churchill considered the EKCP licenses cancelled or invalid.

Background to the State Administrative Tribunal

It was brought to the attention of the Company and Ridlatama in 2010 that the East Kutai Regent ("Regent" or "Bupati") had purported to have cancelled the four mining licenses that comprise the East Kutai Coal Project (EKCP).

Ridlatama and Churchill initiated the Administrative Tribunal in September 2010 in order to have the original cancellations officially expunged from the record, as they considered that the Bupati had violated a number of administrative protocols.

Ridlatama and Churchill requested that the review be held 'in camera' until the results were made public, although the Board took the decision on the 21 February to notify the market of the upcoming action, in-order to pre-empt potential speculation in the Indonesian press which could have been detrimental to the process.

The Administrative Tribunal did not however agree with Churchill's and Ridlatama's position and ruled that the Bupati's attempted revocation of the EKCP licenses did not defy any administrative regulations, a decision that Ridlatama and Churchill will appeal to the State Administrative Tribunal. Instead, the Tribunal cited an April 2010 letter from the Ministry of Forestry to the Regent advising the cancellation of Ridlatama and Churchill's licenses after receiving reports from residents that the Company had carried out mining activities leading to the damage of forestry areas.

Churchill strongly protests this decision and emphasizes that the Company and its partners have never done any mining at the EKCP site. Furthermore, Churchill points out that the communities around the EKCP site have never made such a complaint, a claim substantiated by a sworn Ministry of Forestry affidavit from the chief of the local Dayak cultural council (the traditional community's foremost authority on land issues) that affirmed that local land owners have found the EKCP partners to have never performed any illegal activities and to have acted responsibly at all times. This evidence was presented during the Administrative Tribunal proceedings. Finally, Ridlatama and Churchill note that the licenses that make up the EKCP, which were issued by the same Regent in 27 March 2009, lie outside forestry areas, and therefore are not subject to Ministry of Forestry oversight.

Validity of Licenses

Notwithstanding the decision of the Samarinda Administrative Tribunal, the validity of the EKCP Licences has been confirmed on at least two separate occasions:

t The BPK (an independent state agency tasked with the oversight and audit of state accounts and spatial data), and the East Kutai Police have upheld Ridlatama and Churchill's mining rights in relation to the EKCP Licences;

t During the Administrative Tribunal the Ministry of Energy and Mineral Resources' Head of Legal and Legislative Affairs gave expert testimony that the ministry continued to regard the EKCP partners' licenses as legally valid and enforceable, as no cancellation decree has ever been lodged with the ministry as is required by administrative protocol.

Next Steps

Though disappointed by the Administrative Tribunal's decision, Ridlatama and Churchill remain committed to remedying this unfortunate situation and will perform a serious and exhaustive evaluation of legal options.

The Administrative Tribunal has only concluded in the last couple of hours, and there is currently only a verbal report from the Company's counsel available. The Tribunal is expected to make available a written report of its findings in the coming weeks, and the Company will make a further announcement once the Board has reviewed this report in conjunction with its lawyers.

Restoration of trading on AIM in the Company's shares will take place at 15:00 today.

END

For further information, please contact:

No need to panic,we've got theg reat man himself on the case. lol



sherlock holmes - 3 Mar'11 - 16:44 - 6026 of 6031


Down 41k today so just doubled up around 27p.... I feel this will get sorted quite soon. Remember we have around $30m in the bank with at least 3 companies extremely keen on developing this asset. Lots of monkey business in the background that was created from greed imo from underhand practices. Part of the license was granted subject to investing $1bn which Churchill are trying to secure. Why on earth would the licenses be invalid having floated the company in London. If there was any unsubstantive evidence from the licenses the nomad and the fsa would have know about it by now......all simply a corruptive event soon to be rectified.

You could say : Churchill is a dog.....funny that....but hope you lot got out before this dropped like a stone....I think EK has shorted this....he'll have made a packet on this one......I made a small profit when it was in the 120p's....now 20's.....ouch !.....reminds me of my DES disaster....

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RF i also solf some at 121p,mabe s small los overall but even losing myr potential profit.
Although trying to keep a brave face it feels like a loss.

Well back in profit now,although a lot less than it was.

http://www.monmouthshirebowlingassociation.co.uk/index.php?page=Leagues&id=eccbc87e4b5ce2fe28308fd9f2a7baf3< http://www.iii.co.uk/tv/episode/gulf-keystone-and-genel-kurdistan%E2%80%99s-big-winners

Churchill Mining reported yesterday that the State Administrative Tribunal in Samarinda, East Kalimantan, ruled against it and its Indonesian partners, the Ridlatama Group, in regard to an attempt to cancel the East Kutai Coal Project (EKCP) licence.

Decision is not final and binding as a matter of law until all appeal avenues have been exhausted and management is considering all options including appeals to the State Administrative Tribunal in Jakarta.

In 2010, the East Kutai Regent was purported to have cancelled the four EKCP mining licences after receiving reports alleging that Churchill and its partners carried out mining activities leading to the damage of forestry areas. Churchill initiated to the tribunal in September 2010 in order to have the original cancellations officially expunged.

Churchill said that at no time during the process has it considered the licences cancelled or invalid and neither it nor its partners have done any mining at the project site.

The written report of the findings is expected to be available in the coming weeks and Churchill will make a further announcement once the board has reviewed the report.

Can't expect any bids for this project as long as a dispute exists between CHL and the Indonesian Authorities. Does CHL have any value apart from the disputed licences?

if i was back to b/e or a small profit, i'ld bank it in a hurry!

http://www.youtube.com/watch?v=wyNviteSOzY&NR=1&feature=endscreen

http://www.proactiveinvestors.co.uk/companies/news/26319/churchill-chairman-says-east-kutai-licences-remain-valid-at-this-point-in-time-26319.html

oh dear oh dear oh dear ...... what naughty little boys they are!


Churchill Mining's shares were down sharply in mid-afternoon trading after the firm revealed that two letters rejecting permit applications which had been sent last year had only recently come to light.

Churchill (LON:CHL) is carrying out a thorough audit of its Jakarta offices and the board seeks to gain assurance that there are no further documents of significance of which it is unaware.

Mining Sector: Churchill shares soar after if asks Indonesia to resolve East Kutai dispute


Churchill Mining's (LON:CHL) shares soared after it asked Indonesian government officials to help resolve the investment dispute over the East Kutai coal project.

The company has filed a formal letter to the republic of Indonesia seeking cooperation to achieve "an amicable and commercial resolution" to the dispute.

The letter highlights that following a significant investment in coal exploration in Indonesia, Churchill identified a world class thermal coal deposit at East Kutai, only to be subjected to a sustained campaign designed to expropriate its legitimate rights to develop this deposit.

Churchill believes that the actions of various Indonesian parties, both government and private, are in direct breach of both Indonesia's investment laws and its obligations under a number of international investment treaties.

Don't think its too clever pointing the finger at the Indonesian authorities, better to settle the dispute by negotiation "behind the scenes".

http://www.youtube.com/watch?NR=1&v=Riyv5http://www.efinancialnews.com/assetmanagement?mod=mainnav6pixOk&feature=endscreen

http:http://www.efinancialnews.com/assetmanagement?mod=mainnav//www.halpertconstruction.com/category/building-foundation/

< http://www.efinancialnews.com/assetmanagement?mod=mahttp://www.efinancialnews.com/assetmanagement?mod=mainnavinnavhttp://www.efinancialnews.com/assetmanagement?mod=mainnav

Going well today. :-))

A nice days work sold and out. :-))

27 December 2013



CHL: AIM



CHURCHILL MINING PLC

("Churchill" or "the Company")



Timing of Jurisdiction decision in the international arbitration claim against the Republic of Indonesia

The Directors of Churchill Mining PLC (AIM: CHL) wish to provide an update on the expected timing of the decision or awards on the Republic of Indonesia's ("ROI") challenge to the arbitral tribunal's jurisdiction to hear claims for damages against ROI raised by Churchill and its wholly owned subsidiary Planet Mining Pty Ltd ("Planet") under the auspices of the International Centre for Settlement of Investment Disputes ("ICSID").

The Tribunal anticipates issuing its decision or awards on ROI's challenge to jurisdiction in late January or early February 2014.

Churchill will provide an update when the decision is received.

Who Should Attend?Date:

Tuesday 1st December 2015

Venue:

Novotel Tower Bridge, London EC3N, 10 Pepys Street, London, EC3N 2NR

Event Timings:Sponsored by: