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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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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
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Thursday, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
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Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
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RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
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Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
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Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
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- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Parliament of New Zealand
- Planning Commission, India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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