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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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- Petron Corporation, Philippines
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- Edison Trading Spa - Italy
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- Indian Oil Corporation Limited
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- Trasteel International SA, Italy
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- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Tata Chemicals Ltd - India
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- SMG Consultants - Indonesia
- The University of Queensland
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- Minerals Council of Australia
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- International Coal Ventures Pvt Ltd - India
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- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
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- Chamber of Mines of South Africa
- Anglo American - United Kingdom
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- Renaissance Capital - South Africa
- Mjunction Services Limited - India
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- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
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- Barasentosa Lestari - Indonesia
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- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
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- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
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- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
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- Price Waterhouse Coopers - Russia
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- Oldendorff Carriers - Singapore
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- Australian Coal Association
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- Holcim Trading Pte Ltd - Singapore
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- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
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- Kumho Petrochemical, South Korea
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- Indian Energy Exchange, India
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- Merrill Lynch Commodities Europe
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- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
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- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
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- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
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- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
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- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
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- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
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- Independent Power Producers Association of India
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- Sojitz Corporation - Japan
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- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
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- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
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- Eastern Energy - Thailand
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