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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, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
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- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Planning Commission, India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
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