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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
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