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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
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- Madhucon Powers Ltd - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
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- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
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- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
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- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- India Bulls Power Limited - India
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- White Energy Company Limited
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- Indian Oil Corporation Limited
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- Electricity Authority, New Zealand
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- Ambuja Cements Ltd - India
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- Economic Council, Georgia
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- Parliament of New Zealand
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- The University of Queensland
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- Directorate Of Revenue Intelligence - India
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- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
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- Bukit Makmur.PT - Indonesia
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- Marubeni Corporation - India
- Ministry of Mines - Canada
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- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
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- The Treasury - Australian Government
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- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
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- Attock Cement Pakistan Limited
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- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
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- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
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- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
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- Ministry of Transport, Egypt
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- Billiton Holdings Pty Ltd - Australia
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- Bulk Trading Sa - Switzerland
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- Simpson Spence & Young - Indonesia
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- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
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- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
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- New Zealand Coal & Carbon
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- Jaiprakash Power Ventures ltd
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- Dalmia Cement Bharat India
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- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
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- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
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- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
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