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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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- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
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