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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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Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
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Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
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Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
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- Thai Mozambique Logistica
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- Rashtriya Ispat Nigam Limited - India
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- Antam Resourcindo - Indonesia
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- Manunggal Multi Energi - Indonesia
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- Baramulti Group, Indonesia
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- Xindia Steels Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
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- VISA Power Limited - India
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- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
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- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
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- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
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- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
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- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
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- Independent Power Producers Association of India
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- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
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- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
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- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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- Sarangani Energy Corporation, Philippines
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- Bukit Makmur.PT - Indonesia
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- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
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- Chamber of Mines of South Africa
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- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- The University of Queensland
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
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- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
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- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
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- Interocean Group of Companies - India
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