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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
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- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Australian Coal Association
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
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