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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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- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
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- Standard Chartered Bank - UAE
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- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
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- GMR Energy Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- VISA Power Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
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