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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, 23 December 15
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
As we are heading towards the end of the year we could argue that most of those involved in the shipping industry share mixed feelings for 2015. Th ...
Wednesday, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
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- Agrawal Coal Company - India
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- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Mercuria Energy - Indonesia
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- Economic Council, Georgia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
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- Coal and Oil Company - UAE
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- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
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- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
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- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
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- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
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- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
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- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
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- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
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- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
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- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
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