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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, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
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- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Siam City Cement - Thailand
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- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
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- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Karaikal Port Pvt Ltd - India
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- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
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- Economic Council, Georgia
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- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
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- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
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- Vedanta Resources Plc - India
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- White Energy Company Limited
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- Ministry of Transport, Egypt
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- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
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- Renaissance Capital - South Africa
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- Coalindo Energy - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
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- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
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- Sindya Power Generating Company Private Ltd
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- Romanian Commodities Exchange
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- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
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