28th Dec 2005 09:37
Churchill Mining plc28 December 2005 28 December 2005 CHURCHILL MINING PLC ("Churchill" or the "Company") Acquisition of remaining 20% interest in Exploration Licence E46/599 Churchill Mining Plc (AIM-CHL) is pleased to announce that it has purchased the20% stake held by Black Peak Holdings Pty Ltd ("Black Peak") in explorationlicence E46/599 resulting in Churchill becoming the 100% owner of the tenement. The tenement is part of Churchill Mining's South Woodie Woodie project in theEast Pilbara region of Western Australia. It is also the tenement containing theEnacheddong Creek discovery made by ANZECO in 1977 and which has been one of thefocuses of Churchill's exploration program in 2005. The consideration for the acquisition of the 20% stake in exploration licenceE46/599 is a cash payment of AUD$50,000 and the issue of 3 million new ordinaryshares in Churchill Mining plc to Black Peak. Black Peak has entered into anorderly market arrangement in respect of the shares issued to them. Followingadmission to AIM the shares will rank pari passu with all other shares on issue.Application has been made for these new ordinary shares to be admitted to AIMand it is expected that such admission will be effective as of 8am on 6 January2006. As a result of this transaction Churchill will have 135,800,000 shares in issue.Black Peak will hold 8,800,000 shares, representing 6.48% of the issued sharecapital of the Company. For further information, please contact: Churchill Mining PlcPaul Mazak/ James Hamilton Tel: +61 (0)8 9388 0377Joint Managing Directors Ruegg & Co. (AIM Nominated Advisor)Brett Miller Tel: +44 (0) 20 7584 3663 Midas Investment ManagementMark Sheppard Tel: +44 0870 121 445 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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