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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, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Madhucon Powers Ltd - India
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- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
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- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
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- New Zealand Coal & Carbon
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- Energy Development Corp, Philippines
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- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
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- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
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- Globalindo Alam Lestari - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
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- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
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- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
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- Meralco Power Generation, Philippines
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- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
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- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
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- Iligan Light & Power Inc, Philippines
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- Global Business Power Corporation, Philippines
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- GAC Shipping (India) Pvt Ltd
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- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
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- Australian Coal Association
- CNBM International Corporation - China
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- Vijayanagar Sugar Pvt Ltd - India
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- Central Electricity Authority - India
- The University of Queensland
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
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- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
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- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
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- Pipit Mutiara Jaya. PT, Indonesia
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