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Placing to raise GBP 16.1 million and Mining Reserve Update

26 May 2010

Placing to raise GBP 16.1 million and Mining Reserve Update

 

The Board of Churchill Mining (AIM:CHL) is pleased to announce that it has raised US$ 23.2 million (GBP 16.1 million) before expenses, through the placing (the 'Placing') of 16,087,700 new ordinary shares of 1p each (“Placing Shares”) at 100p per share with institutional investors. The proceeds will be used to advance the East Kutai Coal Project as it moves to development and production and for general working capital. 

Read the Full Announcement here:

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