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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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Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
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- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
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- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
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- The State Trading Corporation of India Ltd
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- Planning Commission, India
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- Electricity Authority, New Zealand
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- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
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- Australian Commodity Traders Exchange
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- South Luzon Thermal Energy Corporation
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- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
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- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
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- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
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- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- The University of Queensland
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- Indogreen Group - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
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- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
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- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
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