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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, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Simpson Spence & Young - Indonesia
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- Mercator Lines Limited - India
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- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
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- Romanian Commodities Exchange
- White Energy Company Limited
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- Wilmar Investment Holdings
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- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
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- Price Waterhouse Coopers - Russia
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- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
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- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
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- McConnell Dowell - Australia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
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- GMR Energy Limited - India
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- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
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- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
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- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
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- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- PTC India Limited - India
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- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
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- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
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