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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 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
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- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
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