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

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