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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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- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
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