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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
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- Petron Corporation, Philippines
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- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
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- VISA Power Limited - India
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- Romanian Commodities Exchange
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- Thai Mozambique Logistica
- Indian Oil Corporation Limited
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- Tata Chemicals Ltd - India
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- Sojitz Corporation - Japan
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- Metalloyd Limited - United Kingdom
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- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
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- Mercuria Energy - Indonesia
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- Siam City Cement PLC, Thailand
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- Pipit Mutiara Jaya. PT, Indonesia
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- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
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- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
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- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
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- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
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