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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Anglo American - United Kingdom
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
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