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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, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
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