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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
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