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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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- GMR Energy Limited - India
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- Carbofer General Trading SA - India
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- Romanian Commodities Exchange
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- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
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- Indonesian Coal Mining Association
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- White Energy Company Limited
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- Petrochimia International Co. Ltd.- Taiwan
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- Goldman Sachs - Singapore
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- Heidelberg Cement - Germany
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- Jindal Steel & Power Ltd - India
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- Eastern Coal Council - USA
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- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
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- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
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- Deloitte Consulting - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
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- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Antam Resourcindo - Indonesia
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- Grasim Industreis Ltd - India
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- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
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- Krishnapatnam Port Company Ltd. - India
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- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
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- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
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- Simpson Spence & Young - Indonesia
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- Wilmar Investment Holdings
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- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
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