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Will we resume trading now we are past this hurdle?
I'd settle for £4 now on 300k shares than possibly double that on further court action with the implied risk.
It's you who has your bicycle clips on. The most confident woman on here wants an out of court settlement.
BRobot Lol, i "bet" i have more shares than you... :-)
Maestro et al? Why so keen to settle ooc? I bet when you have a bet you're one of those cash out merchants. Us long termers have come this far, what's another couple of years. I want the max or nowt.
Fregatr Well the company are preparing the pledge documentation, imho the stay of cost was the major hurdle, the annulment application is strong we have 17 reasons why this award should be annulled anyone of them can trigger annulment. I just hope when this gets annulled, roi come to the table and offer just compensation otherwise we will hire a funder all the way to the end and it will be for a excellent sum.
I agree Maestro. I've always tried to remain positive here and it's looking better by the day. It'll be cream on the cake for me if we get the result we should. I don't like being conned. This was a considered investment foe me not a punt and no way did I expect the ROI to conduct themselves in this manner. Trying to be polite here!!!
Fregatr Better late than never, this is what we have been discussing, im resting alittle easier, this is a major hurdle... :-)
RNS Number : 4444J Churchill Mining plc 28 June 2017 28 June 2017 NEX: CHL CHURCHILL MINING PLC ("the Company" or "Churchill") ICSID Arbitration - Annulment Proceedings Update Further to the Company's announcement of 21 June 2017 regarding its request for continuance of the provisional stay on enforcement of the Award of December 6, 2016 in ICSID Case No. ARB/12/14 and ARB/12/40 ("Award") until completion of the annulment proceedings ("Request for Continuance"), the Company advises that, subject to the Company pledging the Port Land property that it had purchased in the East Kalimantan Province of Indonesia for the East Kutai Coal Project as security, the stay on enforcement of the Award will continue pending a decision on the Annulment Application. In its ruling, the ICSID ad hoc committee ("Committee") has called for the Company to (i) use its best efforts to implement the pledge, (ii) provide an update on progress to the ICSID Secretariat within 15 days, and (iii) provide a copy of the pledge to the Committee and the ICSID Secretariat within 30 days. The Committee has also stated that if implementation of the pledge referred to above is not complied with, the stay on enforcement will be automatically terminated. The Company has accordingly commenced work on preparation of pledge documentation. The Directors of the Company are responsible for the contents of this announcement. ENDS For further information, please contact:
news can only be viewed as positive. However until we actually get an annullment, Ill not get too excited. Atleast we dont have to provide an extortionate funder guarantor. We live for another day !
GP the large amount of land near the port was purchased 7 years ago for around $1.8m, im sure prices will be higher now. Great news now, hopefully this will put roi on the back foot. imho
Just out of interest how are you receiving the RNS's, it hasn't come through on none of my usual channels
So they didn't ask for the full £9 mill to be guaranteed and accepted less than £2mill as a guarantee. I'm reading that in a positive sense. Come on ROI get an offer on the table!!
RNS issued. Stay of cost allowed provided land put up as guarantee.
Maestr, thank you v good info.
Surely they can't be amended for chl clients as they are demanding their bet closed as terms and conditions breached on 8 the June.. Make sure you raised complaint before this I get feeling alot are taking these guys to court..
2. We have also amended Rule 40 governing suspended and delisted stocks to better match the industry standard.
Sperac It's from David Quinlivan...
Maestro, V good info, where is it from?
This one has been suggested: http://www.lse.co.uk/ShareChat.asp?ShareTicker=SCL&share=Schlumberger Father Jockstrap appears to have started early..
What other message board are people using for when this one is closed down?
Toonman I think we will get the stay of cost, IMHO.. Just a waiting game..
Re Maestro's post at 07.37 - "as a goodwill gesture the company has offered to pledge title to some land in Indonesia that the Company had purchased in 2010. Chl purchased 300+ hectares of land on the Kalimantan coast on which they had planned to set up the port facilities for the East Kutai Coal Project." Compared to the total amount CHL invested in this project the purchase of the land is not significant. However this is a nice way of reminding the annulment committee that CHL were totally committed to the project and had invested heavily in it.