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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
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- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
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- Electricity Generating Authority of Thailand
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- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
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- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
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- Iligan Light & Power Inc, Philippines
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- Singapore Mercantile Exchange
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- Baramulti Group, Indonesia
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- India Bulls Power Limited - India
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- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
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- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
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- Thai Mozambique Logistica
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- GN Power Mariveles Coal Plant, Philippines
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- Indian Energy Exchange, India
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- Jaiprakash Power Ventures ltd
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- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
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- Australian Coal Association
- Georgia Ports Authority, United States
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
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- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
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- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
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- Siam City Cement PLC, Thailand
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- Indika Energy - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
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