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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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Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- SN Aboitiz Power Inc, Philippines
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- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
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- Economic Council, Georgia
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- Orica Mining Services - Indonesia
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- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
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- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
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- London Commodity Brokers - England
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- Parliament of New Zealand
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- Directorate General of MIneral and Coal - Indonesia
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- Oldendorff Carriers - Singapore
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- Sindya Power Generating Company Private Ltd
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
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- Indika Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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- Standard Chartered Bank - UAE
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- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
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- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
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- Independent Power Producers Association of India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
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- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
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- Kideco Jaya Agung - Indonesia
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- Agrawal Coal Company - India
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- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
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