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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, 04 November 13
API 8 CFR S.CHINA COAL SWAP FOR Q3' 2014 DELIVERY CLOSED 3.65% HIGHER COMPARED TO Q1' 2014 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.24 percept W-W on Friday 1 November 2013. The CFR South China Co ...
Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Salva Resources Pvt Ltd - India
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- Energy Link Ltd, New Zealand
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- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
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- Directorate General of MIneral and Coal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
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- Commonwealth Bank - Australia
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- Kumho Petrochemical, South Korea
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- Minerals Council of Australia
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- Indonesian Coal Mining Association
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- Indian Oil Corporation Limited
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- VISA Power Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
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- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
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- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
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- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
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- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
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- The University of Queensland
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
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- GN Power Mariveles Coal Plant, Philippines
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- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
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- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
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- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
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- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
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- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
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- Essar Steel Hazira Ltd - India
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- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
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- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
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