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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, 14 December 16
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Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
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Tuesday, 13 December 16
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Monday, 12 December 16
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- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
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