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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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Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
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- Iligan Light & Power Inc, Philippines
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- Medco Energi Mining Internasional
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- Goldman Sachs - Singapore
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- Pipit Mutiara Jaya. PT, Indonesia
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- Wilmar Investment Holdings
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- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
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- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
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- Binh Thuan Hamico - Vietnam
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- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
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- Parliament of New Zealand
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- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
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- GAC Shipping (India) Pvt Ltd
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- Ministry of Finance - Indonesia
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- Videocon Industries ltd - India
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- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
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- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
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- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
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- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
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- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
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- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- The University of Queensland
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- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
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