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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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Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
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- Ceylon Electricity Board - Sri Lanka
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- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
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- Bhatia International Limited - India
- Wilmar Investment Holdings
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- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Singapore Mercantile Exchange
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- Africa Commodities Group - South Africa
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
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- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
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- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
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- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
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- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
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