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