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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, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
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