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