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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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Tuesday, 23 June 15
Q3 FOB INDONESIA COAL SWAP FALL $1.12 IN ONE MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 23 June 15
FOB RICHARDS BAY COAL SWAP HAS REMAINED STEADY OVER THE PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 2.32 ...
Monday, 22 June 15
BORYEONG POWER PLANT TO IMPORT 140K MT OF LCV COAL FOR AUGUST - SEPTEMBER 2015
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase 140K Metric Tons (MT) of LCV coal for ...
Monday, 22 June 15
CFR SOUTH CHINA COAL SWAP: UP MONTH OVER MONTH; DOWN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.30 (0.58%) per MT month over month.
A commodity swap is a ...
Monday, 22 June 15
FOB NEWCASTLE COAL SWAP: UP WEEK OVER WEEK AND MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.54 per MT (1.19%) month over month to US$ 45.87 per mt. The swap was ...
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- Port Waratah Coal Services - Australia
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- Latin American Coal - Colombia
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- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
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- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
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- Ministry of Finance - Indonesia
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- Goldman Sachs - Singapore
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- White Energy Company Limited
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- International Coal Ventures Pvt Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Australian Coal Association
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- Metalloyd Limited - United Kingdom
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- Anglo American - United Kingdom
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- The University of Queensland
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- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
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- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Thai Mozambique Logistica
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- Coal and Oil Company - UAE
- London Commodity Brokers - England
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- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
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- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
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- Sree Jayajothi Cements Limited - India
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- Siam City Cement PLC, Thailand
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- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
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- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
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- Indonesian Coal Mining Association
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- Larsen & Toubro Limited - India
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- Kobexindo Tractors - Indoneisa
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- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
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- Eastern Energy - Thailand
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- GAC Shipping (India) Pvt Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
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- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
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- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
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- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
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