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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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Wednesday, 28 July 21
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Monday, 19 July 21
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- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Australian Coal Association
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
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