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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, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
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- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
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- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Aditya Birla Group - India
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- Formosa Plastics Group - Taiwan
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- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
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- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
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- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
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- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
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- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
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- Samtan Co., Ltd - South Korea
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
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- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
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- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
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- Bangladesh Power Developement Board
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- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
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- Wilmar Investment Holdings
- Indian Energy Exchange, India
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- CIMB Investment Bank - Malaysia
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- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
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- Antam Resourcindo - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
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- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
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- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
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- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
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- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
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- Therma Luzon, Inc, Philippines
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