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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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Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
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- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
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- Central Electricity Authority - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
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- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
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- IEA Clean Coal Centre - UK
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mintek Dendrill Indonesia
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- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
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- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
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- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
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- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
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- Semirara Mining Corp, Philippines
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- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
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- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
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- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
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- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- London Commodity Brokers - England
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- Electricity Generating Authority of Thailand
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- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
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- Meralco Power Generation, Philippines
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- Trasteel International SA, Italy
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
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- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
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- Attock Cement Pakistan Limited
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
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- Wilmar Investment Holdings
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- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
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