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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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Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- Planning Commission, India
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- CNBM International Corporation - China
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- Cement Manufacturers Association - India
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- Standard Chartered Bank - UAE
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- Anglo American - United Kingdom
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- Sojitz Corporation - Japan
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- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
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- PNOC Exploration Corporation - Philippines
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- Global Green Power PLC Corporation, Philippines
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- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
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- Central Electricity Authority - India
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- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
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- Bulk Trading Sa - Switzerland
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- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
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- Indonesian Coal Mining Association
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- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
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- Leighton Contractors Pty Ltd - Australia
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- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
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- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
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