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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
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