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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, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Planning Commission, India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
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