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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
 COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an option at the IBP coal concession in East Kalimantan (the "Coal Project"), is pleased to announce that it has successfully negotiated an agreement to sell the IBP coal concession on behalf of the shareholders of PT Indobara Pratama ("IBP"). Daun Consulting Limited ("DCL") a Singapore-based business and finance company which has acted as agent for a Coal Investment Entity (the "Buyer"), have agreed to terms with the shareholders of IBP which are subject to the payment by the Buyer of a US$ 1 million escrow deposit, successfully completing three months due diligence and the conclusion of an IBP/DCL Share Purchase Agreement (the "SPA").
In consideration of KLG's work, the IBP selling shareholders will pay KLG US$1.37 million as to US$1 million upon completion of the SPA (projected to take place in April 2010) with the balance payable within 12 months of the first payment. In addition, KLG would be entitled to a production royalty of US$ 0.40 per tonne of coal produced from the Coal Project.
KLG will assist DCL in its due diligence, negotiations of off-take arrangements and planning mine development for which DCL will pay KLG fees of US$4.766 million, payable as to US$0.5 million upon satisfactory intermediate due diligence reporting after six weeks from due diligence commencement (projected to commence by early January 2010); a further US$2.2 million payable upon DCL signing the SPA; and US$2.066 million upon the commencement of mining of coal from the Coal Project. In addition DCL will pay KLG a production royalty of US$ 0.10 per tonne of coal produced from the Coal Project.
Commenting on the arrangement, Rahman Connelly CEO, said "Subject to completion by the parties, KLG will receive total cash payments of US$6.136 million and production royalties of US $0.50 per tonne. Given DCL's intention to commence mining during the second half of 2010, scaling up to production of 10 million tonnes annually, the most significant benefit to KLG will be the royalties of US$ 0.50 per tonne."
KLG's Coal Division is sourcing new coal areas to upgrade through drilling, with the objective of earning a share of the sale proceeds (as with IBP) or to earn an equity interest in the project.
The Coal Project
The Coal Project is already permitted for production and has the potential to be an open-cut coal mine. KLG completed a 4600m drilling program on the concession that indicates a potential deposit of 270 MTs of between 4,894 and 5,376 kcal/kg coal (air dried basis), with low ash and low sulfur content.
About Daun Consulting Limited (DCL) Singapore
DCL is a Business/Finance Consultancy, headed by Bryan Yap, former Citibank and Deutsche Bank Executive. DCL is the organizer of a Coal Investment Entity targeting US$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- CNBM International Corporation - China
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- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
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- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
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- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
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- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
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- SMG Consultants - Indonesia
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- MS Steel International - UAE
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- Mercator Lines Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
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- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
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- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
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- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
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- Carbofer General Trading SA - India
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- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
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- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- PTC India Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
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- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
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- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
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- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
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- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
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- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
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- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
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- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
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- Pendopo Energi Batubara - Indonesia
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- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
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- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
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- Billiton Holdings Pty Ltd - Australia
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