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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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Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
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- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
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- Commonwealth Bank - Australia
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- Wood Mackenzie - Singapore
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- Intertek Mineral Services - Indonesia
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- Bangladesh Power Developement Board
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- PNOC Exploration Corporation - Philippines
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- White Energy Company Limited
- Ministry of Mines - Canada
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- Parry Sugars Refinery, India
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- Trasteel International SA, Italy
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- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Simpson Spence & Young - Indonesia
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- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
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- Planning Commission, India
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- Toyota Tsusho Corporation, Japan
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- Indian Oil Corporation Limited
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- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
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- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
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- Economic Council, Georgia
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- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Bhatia International Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
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- Tamil Nadu electricity Board
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- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Ministry of Transport, Egypt
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- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
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