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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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Friday, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
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- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
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