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

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.