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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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Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
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- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
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