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However, we are encouraged that the level canada goose factory

Churchill Mining receives significant interest

canada goose uk black canada goose outlet friday Churchill Mining (LON:CHL) has received canada goose jacket outlet uk a number of specific proposals to fund and develop its massive East Kutai coal project in Indonesia and that the interest in East Kutai is significant. canada goose uk black friday

canada goose store Some of these would allow Churchill to take full control of the project. canada goose store

uk canada goose outlet Initial proposals have ranged from an emphasis on direct entry into the project at the local Indonesian company level through to procuring a large stake in the company. uk canada goose outlet

Certain potential investment partners canada goose outlet new york have also proposed that the mining and infrastructure elements of the EKCP should be separated to be dealt with and funded on a separate basis.

canada goose coats In addition to that, a number of investors have canada goose shop uk expressed interest in either buying out the 25% of the project held by Churchill Indonesian partners or providing funding canada goose outlet legit to Churchill canada goose outlet near me to complete this action itself and bring the project under the company’s sole control. canada goose coats

In all cases, prospective partners have been required to address their ability to canada goose parka uk fund the capital required to develop the project.

Churchill is currently examining three specific proposals from Indonesia, India and the Middle East, in which the acquisition of Ridlatama’s 25% holding in the EKCP is an integral component.

Canada Goose Parka The due diligence process being conducted by various potential investor partners is at different stages of completion. Canada Goose Parka

Canada Goose sale Broker Northland Capital, Churchill nominated advisor (NOMAD) on the AIM market, commented on the news in its ‘Morning Report’. It said Churchill has required the potential investors to demonstrate the canada goose outlet buffalo ability to raise the capital required, „so we anticipate any suitors at this stage have serious backing“. Canada Goose sale

canada goose black friday sale „In essence though it remains a case of wait and see what form a potential deal will take and the process may yet take some time to complete. However, we are encouraged that the level canada goose factory outlet toronto location of investors and the regions of interest are what we would have expected,“ canada goose uk site it added. canada goose black friday sale

buy canada goose jacket cheap Last month, Churchill confirmed that it was a variety of options to take the project forward in response to media reports that it was in talks with several Indian power companies to sell the Indonesian coal project. buy canada goose jacket cheap

cheap canada goose uk Northland Capital confirmed then that Churchill plans canada goose outlet online to sell and it is negotiating with Indian companies. cheap canada goose uk

Canada Goose Jackets In September last year, the company and Ridlatama initiated an administrative canada goose outlet black friday review to further protect the legal standing of the four mining licenses which constitute East canada goose outlet phone number Kutai. Canada Goose Jackets

canada goose coats on sale The review will address ongoing irregular actions and misrepresentations by third parties in Indonesia in respect http://www.canadagoosejacketoutlett.com canada goose outlet toronto to the mining canada goose outlet online uk licences for the East Kutai coal canada goose outlet florida project. canada goose coats on sale

uk canada goose Churchill reported that last Thursday, the regional administrative tribunal indicated that the results of this process in respect of the licenses held by the EKCP will be announced by mid March 2011. uk canada goose

cheap Canada Goose East Kutai is a world class thermal coal deposit. It has a 961 million tonne JORC mining reserve and 2.73 billion tonnes of JORC resources. The sheer scale of the project canada goose jacket outlet toronto is reflected by the US$1.2 billion (direct capital costs) needed to build the mine. cheap Canada Goose

Once operational the proposed open pit would produce 30 million tonnes of high grade thermal coal each year, for an initial 25 year life. It would generate cashflow of US$500 million canada goose outlet real each year.

Canada Goose Online Churchill hired corporate heavyweight Credit Suisse back in canada goose outlet online reviews April 2010 to complete a strategic review and help it evaluate the various options for East Kutai project financing Canada Goose Online.