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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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Friday, 10 October 14
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Thursday, 09 October 14
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Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
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- Planning Commission, India
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- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
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- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
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- White Energy Company Limited
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- Global Green Power PLC Corporation, Philippines
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- Krishnapatnam Port Company Ltd. - India
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- Electricity Authority, New Zealand
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- Ministry of Mines - Canada
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- SMC Global Power, Philippines
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- Africa Commodities Group - South Africa
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- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
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- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
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