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

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