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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Tuesday, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
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- Alfred C Toepfer International GmbH - Germany
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- The University of Queensland
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- Global Coal Blending Company Limited - Australia
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- Chamber of Mines of South Africa
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- Siam City Cement PLC, Thailand
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- McConnell Dowell - Australia
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- Global Business Power Corporation, Philippines
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- Parry Sugars Refinery, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
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- Indika Energy - Indonesia
- Electricity Authority, New Zealand
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- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
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- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
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- Global Green Power PLC Corporation, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
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- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
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- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
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- PowerSource Philippines DevCo
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- Cement Manufacturers Association - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
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- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Australian Coal Association
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- Ministry of Mines - Canada
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- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
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- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
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