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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
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- Iligan Light & Power Inc, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
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- Minerals Council of Australia
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- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
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- Chamber of Mines of South Africa
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- Wood Mackenzie - Singapore
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- Tata Chemicals Ltd - India
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- Metalloyd Limited - United Kingdom
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- Thiess Contractors Indonesia
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- CNBM International Corporation - China
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- McConnell Dowell - Australia
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- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
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- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
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- Petron Corporation, Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
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- San Jose City I Power Corp, Philippines
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- Aboitiz Power Corporation - Philippines
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- Heidelberg Cement - Germany
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- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
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- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
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- The University of Queensland
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- LBH Netherlands Bv - Netherlands
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- Posco Energy - South Korea
- Electricity Authority, New Zealand
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- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
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- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
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- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- New Zealand Coal & Carbon
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- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
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- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
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- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
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- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
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- Interocean Group of Companies - India
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