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

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

Expert tipster James Faulkner, whose recent comment on Range Resources caused such an increase in volumes that the company was forced to issue a statement on the matter, provides two new tips a month and regular updates on specialist small caps site WatsHot.com.

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....

http://en.comunitatvalenciana.com/webcam/benidorm-quality-tourism-benidorm-benidorm-levante-beach-2
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