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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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Saturday, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
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- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Australian Coal Association
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
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