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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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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
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