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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, 15 July 20
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Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
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- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- The University of Queensland
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
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