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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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- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
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