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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, 12 April 17
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Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
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- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
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- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
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