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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
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- Alfred C Toepfer International GmbH - Germany
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- Trasteel International SA, Italy
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- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
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- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
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- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
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- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
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- Lanco Infratech Ltd - India
- Economic Council, Georgia
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- Meralco Power Generation, Philippines
- PTC India Limited - India
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- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
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- The State Trading Corporation of India Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
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- Planning Commission, India
- PowerSource Philippines DevCo
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- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
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- London Commodity Brokers - England
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- India Bulls Power Limited - India
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- Indonesian Coal Mining Association
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- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
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- Africa Commodities Group - South Africa
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- Carbofer General Trading SA - India
- Australian Coal Association
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
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- Star Paper Mills Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
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- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
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- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
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- GAC Shipping (India) Pvt Ltd
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- Romanian Commodities Exchange
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- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
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- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
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