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