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