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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Australian Coal Association
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
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