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