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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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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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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
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- Chamber of Mines of South Africa
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- Ministry of Transport, Egypt
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- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
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- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
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- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
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- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
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- Coastal Gujarat Power Limited - India
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- Orica Australia Pty. Ltd.
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- Medco Energi Mining Internasional
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- Parliament of New Zealand
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- Larsen & Toubro Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
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- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Minerals Council of Australia
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- Wilmar Investment Holdings
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- San Jose City I Power Corp, Philippines
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- Star Paper Mills Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
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- SMC Global Power, Philippines
- Eastern Energy - Thailand
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- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
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- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
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- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
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- Tamil Nadu electricity Board
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- Wood Mackenzie - Singapore
- White Energy Company Limited
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- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
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- Indian Oil Corporation Limited
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- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Videocon Industries ltd - India
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- Orica Mining Services - Indonesia
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- OPG Power Generation Pvt Ltd - India
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- Formosa Plastics Group - Taiwan
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- Petron Corporation, Philippines
- Singapore Mercantile Exchange
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