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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, 12 April 17
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Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
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- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
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