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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, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
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