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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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Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
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