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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
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Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Romanian Commodities Exchange
- ICICI Bank Limited - India
- McConnell Dowell - Australia
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- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
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- Therma Luzon, Inc, Philippines
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- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Posco Energy - South Korea
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- Billiton Holdings Pty Ltd - Australia
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- Coal and Oil Company - UAE
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- Singapore Mercantile Exchange
- Agrawal Coal Company - India
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- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
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- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
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- Parliament of New Zealand
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- AsiaOL BioFuels Corp., Philippines
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- Australian Coal Association
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
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- Independent Power Producers Association of India
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- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
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- White Energy Company Limited
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
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- South Luzon Thermal Energy Corporation
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- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
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- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Jorong Barutama Greston.PT - Indonesia
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- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
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- SMG Consultants - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Eastern Energy - Thailand
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