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Additional Information

Market:	AIM
Sector:	Coal
EPIC:	CHL
Latest Price:	15.38 (0.00%)
52-week High:	115.00
52-week Low:	9.13
Market Cap:	18.59M

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Churchill Mining Full Churchill Mining profile here

Churchill Mining PLC is an AIM listed (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. The project feasibility study has been completed, indicating an economic and desirable project and the study forms the platform for the next stage in the development of the Project. 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.

Churchill Mining tops up coffers with £5 million placing to institutional investors

Wednesday, May 27, 2009

Thermal coal developer, Churchill Mining (AIM:CHL), announced that it has raised £5 million before expenses through the placing of 10 million shares at 50p per share with institutional investors.

Not surprisingly, the bulk of the funds raised will be dedicated to advancing the 75% owned East Kutai Coal Project in Indonesia through a feasibility study.

The total resource at East Kutai now stands at 3.18 billion tonnes of medium calorific coal. The resource is based 40,900 metres of drilling, with a substantial portion of the drilling focused on the north-eastern areas of the Investama Resources Block and north-western areas of the Ridlatama Tambang Mineral Block.

The resource at East Kutai qualifies it as one of the largest undeveloped coal projects in Indonesia, and places the project into the same league as the 3.3 billion tonne Pakar deposit, which came into production last year and is only 55 kilometres south-west of Churchill’s project. Unofficial Indonesian estimates put Churchill’s likely resource at 4 billion tonnes.

East Kutai’s coal has a low sulphur and ash content and moderate moisture, i.e. good quality thermal coal that needs no washing.

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