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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, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
Monday, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
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Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
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- Manunggal Multi Energi - Indonesia
- Planning Commission, India
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- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
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- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
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- Electricity Generating Authority of Thailand
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- Bayan Resources Tbk. - Indonesia
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- Bangladesh Power Developement Board
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- Economic Council, Georgia
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- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
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- Interocean Group of Companies - India
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- PTC India Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Ministry of Transport, Egypt
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- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- The University of Queensland
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Directorate General of MIneral and Coal - Indonesia
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- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
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- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
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- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
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- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
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- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
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- Orica Mining Services - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
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- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
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- Singapore Mercantile Exchange
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- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
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- Siam City Cement PLC, Thailand
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- Bhoruka Overseas - Indonesia
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- White Energy Company Limited
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- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
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