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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Australian Coal Association
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