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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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Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
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Wednesday, 18 June 14
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Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
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Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Thiess Contractors Indonesia
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