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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, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
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