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