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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, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
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Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
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Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
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