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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, 21 June 17
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PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
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WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
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Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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- Sical Logistics Limited - India
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- AsiaOL BioFuels Corp., Philippines
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- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
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- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
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- SMG Consultants - Indonesia
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- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
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- Indian Oil Corporation Limited
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- Energy Link Ltd, New Zealand
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- The Treasury - Australian Government
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- Parliament of New Zealand
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- Georgia Ports Authority, United States
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- Metalloyd Limited - United Kingdom
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- Economic Council, Georgia
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- IEA Clean Coal Centre - UK
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- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
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- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
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- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
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- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
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- Coalindo Energy - Indonesia
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- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
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- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
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- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
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- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
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- Ministry of Transport, Egypt
- Australian Coal Association
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- Global Business Power Corporation, Philippines
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- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
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- CNBM International Corporation - China
- Minerals Council of Australia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
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