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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Bhatia International Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
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