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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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Monday, 04 January 10
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Monday, 04 January 10
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- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
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