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