Churchill suffers licence setback

Churchill Mining shares were suspended from AIM for most of yesterday ahead of the news that an Indonesian tribunal has supported a decision to cancel four of the firm’s mining licences in the country. Churchill’s shares tanked 69.7 per cent to close at 27.25p when reinstated at 3pm, after it said it is working on an appeal against the decision, insisting that the ruling does not alter its legal ownership of the licences.