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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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Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
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