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