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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, 20 January 16
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Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
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Tuesday, 19 January 16
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Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
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Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
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- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
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- The Treasury - Australian Government
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- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
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- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
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- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
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- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
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- Neyveli Lignite Corporation Ltd, - India
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- London Commodity Brokers - England
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- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
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- Baramulti Group, Indonesia
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- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
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- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
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- The State Trading Corporation of India Ltd
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- Parry Sugars Refinery, India
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- The University of Queensland
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- White Energy Company Limited
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- Australian Coal Association
- PowerSource Philippines DevCo
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- Central Java Power - Indonesia
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- Cement Manufacturers Association - India
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- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
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