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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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Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
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- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- White Energy Company Limited
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
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