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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, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
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- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
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