Description
Churchill’s main focus is its highly prospective thermal coal project located in the East Kutai Regency of Kalimantan, Indonesia. The Company has concluded an Exclusivity Agreement with PT Techno Coal Utama and the JORC compliant resource has been defined as 1.412 billion tonnes. Exploration and resource drilling continue along with scoping and pre-feasibility work.
Churchill has also acquired the Sendawar CBM Project in East Kalimantan, Indonesia, which is in an highly prospective area for coal bed methane. Additionally the Company acquired the South Woodie Woodie manganese project in Western Australia however due to the Company’s focus on Indonesia and the increased prospectivity of the project 80% was sold to Spitfire Resources Ltd.
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 becoming a leading minerals explorer and future miner.
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In-depth Churchill Mining Proactive Investors Articles
Recent Churchill Mining news
- 19/12/2008 Churchill Mining Sees No Impact from Indonesia's New Mining Law
- 04/12/2008 Advaita Partners take 6.6% stake in Churchill Mining
- 24/10/2008 Pala Investments increases interest in Churchill Mining to 18%
- 05/09/2008 Churchill Mining reports massive increase in coal resource
- 12/08/2008 Churchill Mining adds heavily experienced technical director
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Company Statement:
Churchill Mining PLC (“Churchill” or “the Company”) has a strategy 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.
Churchill’s main focus is its highly prospective thermal coal project located in the East Kutai Regency of Kalimantan, Indonesia. The Company has concluded an Exclusivity Agreement with PT Techno Coal Utama and the JORC compliant resource has been defined as 1.412 billion tonnes. Exploration and resource drilling continue along with scoping and pre-feasibility work.
Churchill has also acquired the Sendawar CBM Project in East Kalimantan, Indonesia, which is in an highly prospective area for coal bed methane. Additionally the Company acquired the South Woodie Woodie manganese project in Western Australia however due to the Company’s focus on Indonesia and the increased prospectivity of the project 80% was sold to Australian company Spitfire Resources Limited.
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 becoming a leading minerals explorer and future miner.
Current Operations:
THE PROJECTS
East Kutai Coal Project
In May 2007 Churchill announced a sales agreement had been entered into to purchase a 75% interest in the East Kutai Coal Project in East Kalimantan from PT Techno Coal Utama. The Project is located in the major Indonesian coal province of East Kutai and is approximately 120km from Kalimantan’s east coast. Early indications show that this will be the favoured export route for the project. Through a number of acquisitions over the past 12 months Churchill has built a land position at the East Kutai Coal Project of 775km2. Churchill has now extended the size of the project by 200 square kilometres by acquiring a 75% interest in the abutting tenements to the west of EKCP from the Investmine Group of Indonesia.
The Project is highly prospective for coal as illustrated by the recently announced resource of 1.412 billion tonnes of thermal coal. It is derived from total cumulative drilling of 19,662m, focused on the RTM block, one of four target blocks totaling 35,000ha, and represents only 20% of the total target area.
At East Kutai Churchill ‘s main targets at to be met are;
Complete reserve drilling and mine pit design;
Complete initial feasibility study; and
Examine the best way to bring value to the Project
Sendawar Indonesian CBM Project
This was Churchill's first coal project, acquired in April 2006.
The Sendawar CBM project in Kalimantan, Indonesia, covers more than 800 square kilometres of prospective ground and lies in close proximity to two operating open-cut coal mines. The project is located approximately 50km from the Mahakam River.
During Churchill's coal exploration programme, data collected during geophysical and resitivity work, along with data collected from previous oil and gas exploration in the area, indicated that the area was highly prospective for Coal Bed Methane. Churchill (70% of the CBM project) along with its Indonesian partner RMU (30%) were granted Indonesia's first CBM JEA license in September 2007. The CBM project has the potential to host Gas-in-Place of 5.6 trillion cubic feet. Churchill is currently conducting further studies on the CBM project before starting detailed field work.
Given Churchill's established infrastructure and geological network, the Company is ideally placed to review other coal projects in Indonesia and has an ongoing watching brief for properties which the Company believes can bring value for its shareholders.
South Woodie Woodie Project
In conjunction with Spitfire Resources Ltd. http://www.spitfireresources.com/
Given the increased prospectivity of South Woodie Woodie and Churchill's increasing focus on its Indonesian coal and coal bed methane projects, the Company sold 80% of the project to Australian company Spitfire Resources Limited ("Spitfire").
Spitfire, which listed on the ASX on the 12th December 2007, has the option to purchase the remaining equity in the project but must spend AUD$1.5 million on exploration. Aside from its large shareholding in Spitfire, Churchill also retains a price-indexed mining royalty over the South Woodie Woodie project.
The South Woodie Woodie project covers approximately 490 square kilometres (with a further 899 square kilometres under application) in the East Pilbara region of Western Australia, and sits approximately 400km southeast of Port Hedland in the highly prospective Pilbara manganese province. Spitfire has identified multiple drill targets and shall begin its new drill programme shortly.
In March 08 Spitfire announced that it had secured the strategic support of the diversified Norwegian-based industrial, trading and metals & alloys group, Tinfos AS ("Tinfos"), as its new major shareholder via a share placement.
Management
THE DIRECTORS
David Quinlivan - Chairman
Mr Quinlivan is a Mining Engineer and Principal of Borden Mining Services. With almost 30 years experience on projects throughout the world, Mr Quinlivan is familiar with all aspects of resources developments from grass roots exploration through to bankable feasibility reviews and detailed mining programs. He assisted the Administrators with the operation and corporate reconstruction of Sons of Gwalia Ltd. Mr Quinlivan is currently Chief Executive Officer of Mt Gibson Iron Limited a mid-tier iron ore producer in Australia.
Mr Quinlivan is a Fellow of the Australian Institute of Mining and Metallurgy, Member of the Australian Institute of Arbitrators & Mediators Australia and an Associate of the Financial Services Institute of Australia . He is also a non-executive director of ASX-listed gold explorer Avoca Resources Ltd. Mr Quinlivan is responsible for board performance and bringing technical excellence to Churchill Mining Plc.
Paul Mazak - Managing Director
Mr Mazak is a business development specialist and Managing Director of Hastings and Associates Pty Ltd for the past 18 years. Responsible for leading and managing financial, investment, consulting and governmental teams across the globe, Mr Mazak has an intimate knowledge of business practice in many parts of Asia, Africa and Europe . Due to his in-depth knowledge of the mining business, Mr Mazak specialises in securing projects for listed companies. In this regard, he was responsible for the creation and management of the successfully bidding, B.Vijakumar Diamond mining consortium, which sort to develop the world-class Madhya Pradesh diamond property in India. In addition, Mr Mazak sourced the mine assets and was part of the reconstruction team of ASX-listed Majestic Resources NL, where he served as a director between 2001 and 2003. Mr Mazak has been Managing Director of Churchill Mining Plc since 2005 and is responsible for project procurement of the coal and gas assets in Indonesia for the company. In addition he serves in an honorary capacity to Dr Alwi Shihab, the Indonesian President's Envoy to the Middle East, in regard to mining investment into Indonesia .
James Hamilton - Non-Executive Director
Mr Hamilton is a former award-winning Financial Journalist who has specialised in covering the global resources industry. For 13 years Mr Hamilton traveled extensively analysing exploration projects, mines and management teams across a variety of mineral commodities, including precious metals, ferrous metals, diamonds, energy minerals and industrial minerals. He is the former Editor of Australian technical mining journal Australia's Mining Monthly. He has also been Editor of dedicated mining investment magazine ResourceStocks and is the founder of mining information news service, MiningNews.net . In 2005 he was appointed Joint Managing Director of AIM-listed company Churchill Mining Plc and has helped grow the company from concept into a successful explorer. In his position as Joint Managing Director his responsibilities have included operations management, marketing, treasury, project development and corporate compliance.
Faroek Basrewan - Non-Executive Director
Mr Basrewan specialises in dealing with the various level of Indonesian central, provincial and local government. A graduate in law from Indonesian Christian University , Mr Basrewan has had a long and distinguished career in general mediation and dispute resolution, government and regulatory relations within Indonesia . Mr Basrewan has distinguished himself in service to Indonesia as Special Staff to the Minister of Defence and has carried out various assignments for the Indonesian Government over many years. He was the Special Assistant to the first democratically elected Indonesian President, Abdul Rachman Wahid (Gustur). He is currently Special Advisor and Special Assistant to Dr Alwi Shihab, the Indonesia President's Envoy to the Middle East .
Major Shareholders
Contact Information
Pelham Public Relations
Candice Sgroi
Ph: 0207 7436376
Churchill Mining Plc
Registered Office:
55 Gower Street,
London WC1E 6HQ
Australian Office:
Suite 1, 346 Barker Road
Subiaco
Western Australia 6008
Phone: +61 (08) 6382 3737
Fax: +61 (08) 6382 3777
PT Indonesia Coal Development
Indonesian Office:
Wisma Kosgoro Building,
18th Floor, Jl M H Thamrin 53,
Jakarta Pusat 10350,
Republic of Indonesia
Ph: +62 2139832398
Fax: +62 2131922877
Postal Address:
P.O Box 8050
Subiaco East
Western Australia 6008
Corporate Information
Nominated Advisor
BlueOar Securities
30 Old Broad Street
London EC2N 1HT
Tel: +44 (0) 207 448 4400
Broker
Midas Investment Management Service
2nd Floor, Arthur House
Chorlton Street
Manchester , M1 3FH
Tel: +44 (0) 870 121 1445
Financial PR
Pelham Public Relations
No1 Cornhill
London, EC3V 3ND
Tel: +44 (0) 207 743 6376
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