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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, 20 May 09
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Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- The University of Queensland
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
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