Pala Investments Holdings, a specialist mining and natural resources fund (website), announced that it had increased its interest in Churchill Mining (AIM: CHL) to 14.42% of the company.
Churchill Mining recently announced an upgraded resource for its East Kutai Coal Project in Kalimantan, Indonesia to 1.412 billion tonnes, comprising of 118 million tonnes of measured resource, 322 million tonnes of indicated resource, and 972 million tonnes of inferred resource.
Churchill Mining is fast tracking the resource definition and development of the East Kutai Coal Project in Kalimantan's thermal coal belt.