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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
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- Gujarat Electricity Regulatory Commission - India
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- Wood Mackenzie - Singapore
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- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
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- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
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- Straits Asia Resources Limited - Singapore
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- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
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- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
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- The State Trading Corporation of India Ltd
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- Petron Corporation, Philippines
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- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Minerals Council of Australia
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- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
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- Indonesian Coal Mining Association
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- The Treasury - Australian Government
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- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Planning Commission, India
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- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
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- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
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- Power Finance Corporation Ltd., India
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- London Commodity Brokers - England
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- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
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- Binh Thuan Hamico - Vietnam
- The University of Queensland
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- Indogreen Group - Indonesia
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- Vedanta Resources Plc - India
- Aditya Birla Group - India
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- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
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- Baramulti Group, Indonesia
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- Medco Energi Mining Internasional
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