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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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Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
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- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
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- PTC India Limited - India
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- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
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- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
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- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
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- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
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- Meralco Power Generation, Philippines
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- Directorate Of Revenue Intelligence - India
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- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
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- IHS Mccloskey Coal Group - USA
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- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
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- Wilmar Investment Holdings
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- Commonwealth Bank - Australia
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- Uttam Galva Steels Limited - India
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- Globalindo Alam Lestari - Indonesia
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- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
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- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
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- London Commodity Brokers - England
- Sical Logistics Limited - India
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- Energy Development Corp, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
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- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
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- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
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- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
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- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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