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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, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Australian Coal Association
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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