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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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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- The University of Queensland
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
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