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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
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