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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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Friday, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
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- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Ministry of Mines - Canada
- PTC India Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
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