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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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- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
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