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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
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Wednesday, 19 May 10
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Tuesday, 18 May 10
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Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
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Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
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- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
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- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
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- Vijayanagar Sugar Pvt Ltd - India
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- Indian Oil Corporation Limited
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- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
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- Energy Development Corp, Philippines
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- Straits Asia Resources Limited - Singapore
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- Price Waterhouse Coopers - Russia
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- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
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- Indo Tambangraya Megah - Indonesia
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- The State Trading Corporation of India Ltd
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- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
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- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
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- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
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- Australian Coal Association
- Trasteel International SA, Italy
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- Economic Council, Georgia
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- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
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- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
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- Energy Link Ltd, New Zealand
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- Samtan Co., Ltd - South Korea
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- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
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- Semirara Mining Corp, Philippines
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