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