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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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Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
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- PTC India Limited - India
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- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
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- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
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- PowerSource Philippines DevCo
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- Gujarat Sidhee Cement - India
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- Planning Commission, India
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- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
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- Mercuria Energy - Indonesia
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- Global Business Power Corporation, Philippines
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- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
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- GMR Energy Limited - India
- New Zealand Coal & Carbon
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- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
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- Parliament of New Zealand
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- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
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- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
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- Straits Asia Resources Limited - Singapore
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- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Latin American Coal - Colombia
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- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Merrill Lynch Commodities Europe
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- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
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- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
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- Price Waterhouse Coopers - Russia
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- Bukit Asam (Persero) Tbk - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Oldendorff Carriers - Singapore
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- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
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- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- ASAPP Information Group - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
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- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
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- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
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