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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, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
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- Rio Tinto Coal - Australia
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- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
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- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
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- Global Business Power Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
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- Economic Council, Georgia
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- Intertek Mineral Services - Indonesia
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- The State Trading Corporation of India Ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
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- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
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- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
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- Electricity Generating Authority of Thailand
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- The Treasury - Australian Government
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- Meralco Power Generation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
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- Coalindo Energy - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
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- Price Waterhouse Coopers - Russia
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- Ministry of Transport, Egypt
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- Bangladesh Power Developement Board
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- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
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- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
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- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
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- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- White Energy Company Limited
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- Coal and Oil Company - UAE
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- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
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