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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, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to r ...
Tuesday, 15 December 15
THE GOVERNMENT DECLARED THERMAL COAL BENCHMARK PRICE CRASHING ONCE AGAIN
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price down to below 2009 level. HBA has slumped by 1.69% mo ...
Tuesday, 15 December 15
API 5 FOB NEWCASTLE COAL SWAP FIRM W-W; WEAK M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $.13 per ton (0.35%) month over month to US$ 37.07 per ton. The swap w ...
Monday, 14 December 15
5000 GAR CS (I) COAL INDEX DECLINE US$ 0.04 PER TON W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.04 per ton (-0.10 %) week over week.
According to the CS (i) coal (system generated ...
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- Electricity Generating Authority of Thailand
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- McConnell Dowell - Australia
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- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
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- Grasim Industreis Ltd - India
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- Toyota Tsusho Corporation, Japan
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- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
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- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
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- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
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- PTC India Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
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