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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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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Kaltim Prima Coal - Indonesia
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- White Energy Company Limited
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- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
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- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Planning Commission, India
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- McConnell Dowell - Australia
- Wilmar Investment Holdings
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- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
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- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
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- Coal and Oil Company - UAE
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- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
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- Global Green Power PLC Corporation, Philippines
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- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
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- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Economic Council, Georgia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
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