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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, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
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Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
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Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
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- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
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- Indonesian Coal Mining Association
- Bhatia International Limited - India
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- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
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- Makarim & Taira - Indonesia
- VISA Power Limited - India
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- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Orica Australia Pty. Ltd.
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- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Parliament of New Zealand
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- Global Green Power PLC Corporation, Philippines
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- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
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- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
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- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
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- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
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- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Deloitte Consulting - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
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