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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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Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Parliament of New Zealand
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
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