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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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- Sarangani Energy Corporation, Philippines
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- Economic Council, Georgia
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- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
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- Goldman Sachs - Singapore
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- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
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- IHS Mccloskey Coal Group - USA
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- Global Business Power Corporation, Philippines
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- The State Trading Corporation of India Ltd
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- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
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- Coal and Oil Company - UAE
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- Rashtriya Ispat Nigam Limited - India
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- Eastern Energy - Thailand
- CNBM International Corporation - China
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- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
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- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
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- Antam Resourcindo - Indonesia
- PTC India Limited - India
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- Port Waratah Coal Services - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- The Treasury - Australian Government
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- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
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- Africa Commodities Group - South Africa
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- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- The University of Queensland
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Australian Coal Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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