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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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Saturday, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
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- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
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