Three bids made for Churchill Mining as it denies BHP link

COAL group Churchill Mining yesterday said it had received three separate approaches yesterday, but denied speculation that one of its suitors was mining giant BHP Billiton.&nbsp;&nbsp; <br /><br />Two of the approaches were for the possible acquisition of specific projects, the Aim-listed group said, while the third was a potential offer for the whole company, which has projects in Indonesia and Western Australia.<br /><br />&ldquo;The approaches are conditional on due diligence and at this stage there is no certainty that any will progress to completion,&rdquo; it said.<br /><br />Churchill&rsquo;s shares hit a record high of 100p yesterday, valuing the group at &pound;77m.<br /><br />In August, Churchill said its total measured and indicated resources for the East Kutai Coal Project in Indonesia exceeded 1.3bn tonnes and that the asset would yield substantial interest in the company from energy producers.<br /><br />The bid comes as the world economy stabilises and the demand for coal increases, particularly from China and India.<br /><br />Churchill said it was continuing discussions with all three parties, but declined to name who the unconnected bidders were.