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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, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
Tuesday, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Parry Sugars Refinery, India
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- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
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- Sree Jayajothi Cements Limited - India
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- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
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- Chamber of Mines of South Africa
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- The State Trading Corporation of India Ltd
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- Rio Tinto Coal - Australia
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- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
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- Romanian Commodities Exchange
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- White Energy Company Limited
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
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- Central Java Power - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Wilmar Investment Holdings
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- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
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- Aditya Birla Group - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
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- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
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- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Australian Coal Association
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Minerals Council of Australia
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- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
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- Bhoruka Overseas - Indonesia
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