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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, 13 June 18
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Monday, 11 June 18
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Monday, 11 June 18
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Friday, 08 June 18
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SHIPPING MARKET INSIGHT - KATERINA RESTIS
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- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
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