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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
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