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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, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
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- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- CNBM International Corporation - China
- The University of Queensland
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
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