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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, located some 30km to the north of Sakari’s Jembayan Mine in East Kalimantan.
According to statement posted on company’s website, under the HOA, Sakari will undertake an exploration programme and due diligence review and, if the results from these activities prove satisfactory to Sakari, the acquisition will proceed to completion.
Drilling of the properties will start in August 2012 with preliminary results expected towards the end of the year.
Sakari has paid an initial, refundable cash deposit of US$2 million. If the transaction moves to completion, Sakari will pay an additional US$2 million in cash plus an equity component, which will be determined by reference to the results from the drilling programme and the number of IUPs to be acquired.
The total equity consideration is capped at US$60 million in value, should Sakari decide to acquire an interest in all the IUPs.
The statement further said that, the HOA is between PT Separi Energy, a subsidiary of Sakari Resources Limited, and Rudy Ong Chandra and Hairil Hasmy (Sellers). Under the HOA Separi Energy may acquire 100% of the shares in all or any of PT Sepiak Jaya Kaltim, PT Cahaya Bara Kaltim, PT Bunga Jadi Lestari and PT Anugerah Pancaran Bulan, the companies which own the exploration IUP’s.
The book value, net tangible asset value and open market value of the companies have not yet been determined and they have not yet commenced business.
About Sakari:
Sakari (SGX: SAR) is a coal company with a focus on supplying thermal coal to major power utilities and industrial users in Asia. Production from Indonesia in 2011 was 10.7Mt, making it one of the country’s largest thermal coal exporters.
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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Krishnapatnam Port Company Ltd. - India
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- Pipit Mutiara Jaya. PT, Indonesia
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- IEA Clean Coal Centre - UK
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- Indian Oil Corporation Limited
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- SMC Global Power, Philippines
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- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
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- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
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- Global Business Power Corporation, Philippines
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- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Directorate General of MIneral and Coal - Indonesia
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- Renaissance Capital - South Africa
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- Siam City Cement - Thailand
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- The State Trading Corporation of India Ltd
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- Straits Asia Resources Limited - Singapore
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- Rio Tinto Coal - Australia
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- CIMB Investment Bank - Malaysia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
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- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- White Energy Company Limited
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- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
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- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
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- Neyveli Lignite Corporation Ltd, - India
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- Kideco Jaya Agung - Indonesia
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- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
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