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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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Wednesday, 20 May 09
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Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Aditya Birla Group - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
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