Churchill Mining (#CHL) – appointment of administrator
- 2019-04-07 23:55:48
Many of you who put your hard earned money into AIM seem to love a boom-or-bust type of gamble, even when the odds aren’t in your favour!
If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at Churchill Mining (CHL), Enegi Oil (ENEG), Sula Iron & Gold (SULA)
There is little doubt that the daily chart of Churchill Mining is certainly a big one in terms of the price action sweep we have seen over the past year.
Of course, we all like David and Goliath stories, and this may have been part of the attraction in terms of the Bull argument in the recent past as far as Churchill Mining (CHL) is concerned.
We must assume that the Indonesian government is big on the rule of law, as big as the UK government is on throwing anyone with even a half baked charge against them over to the US authorities for prosecution, I have always suspected that Churchill Mining’s (CHL) battle against Indonesia has been somewhat one sided.
In Bulletin Board fantasy land some morons were assuming that Churchill Mining (CHL) might have won its case by next week.
I am afraid that Zak Mir, Lucky Shares and all the Bulletin Board Morons have got Churchill Mining badly wrong. I am short and at 27-29p that is the only sensible call.
In 2011 the Indonesian government revoked the EKCP licences of Churchill Mining (CHL). After several futile appeals against the decision, Churchill Mining decided to take matters to the ICSID, for a $1,054B claim, excluding interest.
The last technical call on Churchill Mining most bullish, and witnessed around 10p of upside versus the recent peak of 49p.
While it may appear that it is a little late in the day to get on the bandwagon as far as Churchill Mining is concerned, the current charting perspective suggest that we are only in the early stages of a rally relative to how far the stock could climb over the next few weeks.







