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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, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- White Energy Company Limited
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
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