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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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Friday, 27 August 21
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Tuesday, 24 August 21
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- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
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- Coal and Oil Company - UAE
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- The Treasury - Australian Government
- Energy Development Corp, Philippines
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- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
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- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
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- Singapore Mercantile Exchange
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- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
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- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- MS Steel International - UAE
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
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