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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- Australian Commodity Traders Exchange
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- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
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- Toyota Tsusho Corporation, Japan
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- Coalindo Energy - Indonesia
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- Posco Energy - South Korea
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- Iligan Light & Power Inc, Philippines
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- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Indian Oil Corporation Limited
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- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
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- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
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- Eastern Energy - Thailand
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- Africa Commodities Group - South Africa
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- MS Steel International - UAE
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- Renaissance Capital - South Africa
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- Wood Mackenzie - Singapore
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- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
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- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
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- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
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- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
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- India Bulls Power Limited - India
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- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
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- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
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- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
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- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
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- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
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