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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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Saturday, 21 March 20
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OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
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84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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