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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, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
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Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- Parliament of New Zealand
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- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
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- Ministry of Transport, Egypt
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- Economic Council, Georgia
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- Planning Commission, India
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- Georgia Ports Authority, United States
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- Eastern Coal Council - USA
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- MS Steel International - UAE
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- Electricity Authority, New Zealand
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- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Romanian Commodities Exchange
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- Eastern Energy - Thailand
- Australian Coal Association
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- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- VISA Power Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
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- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
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- Sinarmas Energy and Mining - Indonesia
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- Coal and Oil Company - UAE
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- Simpson Spence & Young - Indonesia
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- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
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- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
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- Bangladesh Power Developement Board
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- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
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- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
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- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
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- The State Trading Corporation of India Ltd
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- The University of Queensland
- South Luzon Thermal Energy Corporation
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- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
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