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