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