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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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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- VISA Power Limited - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Planning Commission, India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
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