Cloudified Share Discussion Threads

[1lilac] 15/4/2016 15:03

I think fib retrace comes at sub 16p. Punters should always look at the chart before buying mega rise shares.

[1lilac] 15/4/2016 14:58

Selling in the close. :(

[spartikas] 15/4/2016 14:58

reminder of last years golden boy article....




Churchill Mining and Indonesia in talks on settling coal dispute - source

































London-listed Churchill Mining (CHLL.L) and the Indonesian government are holding talks aimed at reaching a settlement over a long-running dispute for one of the world's biggest coal reserves, a source familiar with the negotiations said.

Churchill has been embroiled in an international arbitration battle since 2012 with Indonesia over the licensing of the East Kalimantan coal project that is estimated by the firm to contain 2.73 billion tonnes of coal reserves.

The protracted battle comes at a time when Indonesia's government under President Joko Widodo has been trying to encourage more foreign investment to revive slowing growth in Southeast Asia's biggest economy.

A source familiar with the talks did not give details on negotiations but said there was an "open channel" between the mining firm and the government.

"Based on the talks that we're having, I'd be confident that there will be a settlement, but it's a question of what Churchill shareholders think will be the right amount," said the source, who declined to be identified because of the sensitivity of the situation.

The case revolves around the disputed ownership of the 350-square-km (135-square-mile) mine site in East Kutai, which the British miner says is worth around $1.5 billion.

The source said that while talks were ongoing, the legal or arbitration route would continue.

Churchill has spent more than $10 million on its legal bid after claiming that it had been unfairly stripped of its licences and accused of fraud.

A verdict in the arbitration case was previously expected in 2016, but the mining firm's shares have soared by 50 percent after it issued a statement last week saying Indonesia was no longer alleging it was involved in fraud.

Indonesia's attorney general's office could not be reached for comment on the issue and Churchill's Australian office did not immediately respond to a request for comment.


(Reporting by Michael Taylor; Editing by Ed Davies)

[debbiegee] 15/4/2016 14:58

Traders havnt got a clue about the timebomb they are playing with.
Chart just says a lot of people made a quick buck.
It is however possible that there could be at some point be quiet a few Churchill millionaires and many with life changing sums !

[flyingc] 15/4/2016 14:54

Great list spartikas (2718)

When you put it like that ROI have a lot of questions to answer.

Not least of which is why were they happy enough having CHL plough money into ROI and spend in the country when ROI thought there was nothing there except mud and hills, but as soon as a valuable commercial asset was found the licences were immediately revoked ?

ROI couldn't even decide on the grounds of revocation to begin with. It is as plain as a pikestaff that they just wanted rid of CHL, eventually settling on the line of "forgery" to try and achieve that.

ICSID are no fools - and neither are CHL's current lawyers. I'm looking forward to reading the judgement in this one - assuming it even gets that far.

GLA

FC

[daddy warbucks] 15/4/2016 14:48

Spartikas,You missed off the intimidation of Staff at Churchills local offices in Indonesia.

[spartikas] 15/4/2016 14:46

better to be in than out with this one...IMHO.

I'm hoping we have some more details in the weekend press, considering we have the Indonesian visit this week...bit of a coincidence.

[daddy warbucks] 15/4/2016 14:38

I keep thinking about the Indonesian Presidents visit to the U.K. starting on Tuesday. It would be nice to think they had an agreement where both parties could say they have achieved something.Maybe wishful thinking, but I'm not giving up hope.

[flyingc] 15/4/2016 14:12

The thing with an arbitration such as this one is you can obfuscate, delay and be as obstructive as you like.

But eventually, as ROI are about to find out, the day of reckoning comes. And it's getting nearer. Much nearer.

The worst we get now is that ROI do seek to continue. So what ? They have shot themselves in the foot and compromised their credibility / bona fides in the eyes of ICSID.

It's been a very good week for CHL - bring on next Wednesday.

FC

[knobbyknuts] 15/4/2016 13:59

You wouldn't want to be out over the weekend, anything could happen maybe even some press, or even a statement from ROI, Then try buying Monday at this price.

[stephen1946] 15/4/2016 13:44

ROI havent overlooked the date for the $200m, payment they have just decided, no more cash or time will be spent on this lost cause. Of course i am not party to the discussions within ROI, but what other conclusion can be drawn from a huge governmental machine not paying a pittance to the arbitration offices?

The arbitration will take legal advice on what comes next but whatever it is, CHL is the obvious beneficiary, because both sides now conclude their case and closing statements containing expenses, then its quantum should the bench find in CHL favour.

The main crux of ROI case seems to be around forged documents and that needed roi to proved, honest and truthful, mmmm. We will see.

[chrisjwb] 15/4/2016 13:41

Maybe we should do a protest where they are "Justice for Churchill" could grab a few headlines

[gerd212] 15/4/2016 13:39

Who would they pay it to?

[marmar80] 15/4/2016 13:31

What if RoI pays back their part on Monday? Can they pay 200k plus interest? What will happen in this scenario?

[baxter99] 15/4/2016 12:56

Churchill paid on behalf of the Indo's so that the arbitration will continue, with or without the Indo's. Churchill have given the Indo's until 6pm Wednesday to provide unequivocal confirmation that it is still participating in the arbitration and put Indonesia on notice that if it does not provide such confirmation by 6pm Singapore time Wednesday 20 April 2016, Churchill will bring an application under Rule 42 of the ICSID Arbitration Rules and ask the Tribunal to fix a schedule for the completion of this case without them.That's 11am Wednesday in the UK. If nothing is heard from the Indo's by Tuesday the share price might get interesting in the lead up that afternoon and again on Wednesday morning before 11am UK time.Happy days

[stephen1946] 15/4/2016 12:37

Good point masarap, you seem to be making the case for the president of indonesia now putting pressure on his own negotiators to come up with a payment plan of sorts that will end this case immediatly. Stopping the payments is probably the first step. The honour aspect is an enormous part of the asian culture and losing face in this arbitration case has been the sticking point. Non payment of the $200m and adherence to the process from this moment on will appear that ROI are calling the shots and have been misunderstood all along. ROI pay whatever is set and everyone has won.

[patviera] 15/4/2016 12:31

But siennaIf they don't take part is it a slam dunk for us? If it is I just don't get why roi wouldn't pay..makes no sense

[sos100] 15/4/2016 12:22

don't suppose it would do much harm to the share price :)

[masarap] 15/4/2016 12:17

Stephen1946, I wasn't suggesting UK political pressure is or has been put on ROI. My point is that decent journalism would put both Jokowi and Cameron on the spot. Breaking an international treaty is a significant story particularly when the leader of the country is visiting on a mission to build up trade links.

There is likely to be a joint press conference at some stage of the visit. I'd like the questions asked. The answers would go a long way towards knowing whether ROI's only game plan is to sulk, play for time and deplete CHL's cash.

CHL's legal team seem a cut above the Oxus lawyers. It's no coincidence that CHL are more aggressive and vocal in their communication. I would be disappointed if they weren't lobbying UK / Aussie diplomatic channels to put pressure on ROI to settle. DQ has publicly stated that President Widodo is irritated this case is still going on and adversely impacting ROI's objective to get foreign investment. There is a solution to that namely a decent settlement. Maybe this is what Jokowi now accepts has to happen to help him deliver his inward investment plans.

[siennadelekat21] 15/4/2016 12:04

You are concentrating on this paragraph Pat(v) invite Indonesia to provide unequivocal confirmation that it is still participating in the arbitration and put Indonesia on notice that if it does not provide such confirmation by 6pm Singapore time Wednesday 20 April 2016, Churchill will bring an application under Rule 42 of the ICSID Arbitration Rules and ask the Tribunal to fix a schedule for the completion of this case without the participation of Indonesia.Wednesday is the timeline to find out if Indonesia are actually still playing ball.... Not to pay what has already been paid by Churchill!