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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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- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
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