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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, 15 July 20
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Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
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- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
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