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