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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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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
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