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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, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Planning Commission, India
- Electricity Generating Authority of Thailand
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- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
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- Ministry of Transport, Egypt
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- Edison Trading Spa - Italy
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- Videocon Industries ltd - India
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- Ministry of Mines - Canada
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- Mercator Lines Limited - India
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- Eastern Energy - Thailand
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- Bulk Trading Sa - Switzerland
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- Sindya Power Generating Company Private Ltd
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- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
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- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
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- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
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- Commonwealth Bank - Australia
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- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
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- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
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