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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, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
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- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
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- New Zealand Coal & Carbon
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- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
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- Merrill Lynch Commodities Europe
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- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
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