Cloudified Share Discussion Threads

[debbiegee] 15/8/2015 08:46

August 4, 2015 The Respondent submits oral observations on the Claimants’ request of July 30, 2015 during the hearing.

The Tribunal decides on the exclusion of evidence.
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[I posted my link as well in case some cant open the other]

I had imagined ROI asking Noor not to give evidence as he would only make matters worse imagining that they were trying to negotiate a cheaper settlement to come out as best they could while damaging their reputation as little as possible.

When Noor was asked to resign [or sacked] he made it quiet clear that he would still be available to assist the State.

[daddy warbucks] 15/8/2015 07:29

Could be Isran Noors evidence being thrown out?But that begs the question, how did they know he wasn't attending BEFORE the tribunal started?

[mrshaungcm] 15/8/2015 06:16

August 4, 2015 The Respondent submits oral observations on the Claimants’ request of July 30, 2015 during the hearing.

The Tribunal decides on the exclusion of evidence.
hxxps://icsid.worldbank.org/apps/ICSIDWEB/cases/Pages/casedetail.aspx?CaseNo=ARB/12/40%20and%2012/14&tab=PRD

[wulber] 14/8/2015 16:31

Apart from OXS and CHL are there any other arbitration plays that are as advanced in proceedings?

TIA

[debbiegee] 14/8/2015 16:24

better odds than yesterday lol

[pb01] 14/8/2015 16:16

lol Carlo. Glad you found the deliberate typo :-)

[carlo sartori] 14/8/2015 16:13

You might not be a window PB01 but I can see right through you :))

I agree with your thoughts 100%.

Carlo

[debbiegee] 14/8/2015 16:13

Good post PB01 and true !

[pb01] 14/8/2015 16:09

this is the key bit in the fool article.

'As a result, Mr Noor was considered to be one of Indonesia’s key witnesses — his non-attendance could help sway the Tribunal.'



Personally I don't agree with the fools summary. It wont take years to settle, settlement is close. Also they won't run out of cash either - they have the authority to issue more shares if needs be. I am not a window or orphan and very happy with the risk to reward ratio which is firmly stacked in CHL's favour.

[debbiegee] 14/8/2015 15:53

Fickle market eh /
Nothing has changed sinse yesterday apart from our hostile witneses statements being taken out .
Yesterday folk were happy paying 40p for them and mms paying 38 :-)

[dave444] 14/8/2015 15:53

Funding for between 6-12 months on current burn rate!

[coley15] 14/8/2015 15:31

Oggy - I'll take my 670p /share now please - o;)

[debbiegee] 14/8/2015 15:26

Yes laughable Pembury !!!!!!!!!!!

[pembury] 14/8/2015 15:18

Would the UK get involved with ROI knowing what is going on here and across the country if this remains unresolved come key ROI UK Government trade talks next month in London?.

So the UK Government is considering loaning the ROI £1bn and signing JV projects with this outstanding they must be mad.

[debbiegee] 14/8/2015 15:06

I do not believe Indonesia will let it run for as long as it takes for us to run out of money.
The ROI also has a program and wants to get on with foreign investment.

[oggyrocks] 14/8/2015 15:02

OK - here its is for you. fool is free - i dont look that often but saw this article on google. It reads really well for CHL.

Mining minnow Churchill Mining (LSE: CHL) issued an update today regarding the progress of its arbitration case against the Government of Indonesia.

The update concerned the recent document authenticity hearing, which was held between the 3rd and 10th August. The hearing included a number of expert witnesses and oral presentations. All of the witnesses for Churchill and related parties whom Indonesia requested for cross-examination attended the hearing.

However, not all of the witnesses for Indonesia whom Churchill requested attend the meeting showed up. One of Indonesia’s key witnesses, Isran Noor, declined to attend the proceedings, and as a result, the Tribunal ordered that Mr Noor’s witness statement be struck out and disregarded.

Now the Tribunal hearing has been completed, there will be the presentation of post-hearing briefs by both sides and the Tribunal will deliver its decision in due course. There is no set date for the Tribunal to deliver its decision on Indonesia’s dismissal application, although the decision is unlikely to be handed down for some months.

Key development
The decision by Isran Noor not to attend the hearing is a surprising development. Mr Noor held the office of Bupati (the head of local government) of East Kutai before his recent resignation. As a result, Mr Noor was considered to be one of Indonesia’s key witnesses — his non-attendance could help sway the Tribunal.

Next steps
This month’s document authenticity hearing is a key stage of Churchill’s battle against the Indonesian government.

Churchill is fighting the Government of Indonesia over the unlawful revocation of the East Kutai Coal Project in East Kalimantan Indonesia, in which Churchill and its partner, Planet Mining Pty Ltd. held a 75% interest.

The Government of Indonesia has been trying to throw out Churchill’s claims against the mine on the grounds of document authenticity. When the results of the document authenticity hearing are finally released, they should settle the debate and allow Churchill’s claims against the government progress further.

And there is a lot at stake here. Churchill spent $67m on exploration and feasibility studies at the East Kutai Coal Project, arriving at a potential resource estimate of 3.1bt. The company’s damages have been independently assessed at $1.3bn, around £833m. At time of writing, Churchill’s market cap is only £44m.

Binary bet
As I’ve said before, Churchill’s shares are a binary bet right now. City analysts believe that if the company reaches a settlement with the Indonesian government, it could receive a cash lump sum of around $9.70 per share. Or, in sterling terms, approximately 670p per share.

Nevertheless, it could take years for Churchill to reach a settlement, and the company’s cash balance is running out. Churchill’s cash balance has dwindled over the past four years to only £3m, down from £22m four years ago as the drawn out legal battle has sapped resources.

High risk, high reward
All in all, Churchill is a high-risk/high-reward play. If the company reaches a settlement, its shares could rocket. However, there's a high risk that Churchill could fail to negotiate a deal, run out of cash and become insolvent.

So, Churchill's certainly not a company that's suitable for widows and orphans.

[moreforus] 14/8/2015 14:53

is that one you have to pay for again or fill in a questionnaire??

[the stigologist] 14/8/2015 14:52

this thread and header in particular are essential reading for deluded muppets

[oggyrocks] 14/8/2015 14:52

Interesting write up on fool.co.uk today.

Worth a read - i wont post it on here as its easy to find if thats ok.