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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, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
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- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
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