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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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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- Makarim & Taira - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
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