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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, 23 February 10
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Friday, 19 February 10
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Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
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The BSI still decline as holidays around the world have reduced trading.
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- Bukit Asam (Persero) Tbk - Indonesia
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- Singapore Mercantile Exchange
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- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
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- Meralco Power Generation, Philippines
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- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
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- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Latin American Coal - Colombia
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- Intertek Mineral Services - Indonesia
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- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
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- TeaM Sual Corporation - Philippines
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- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
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- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
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