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