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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, 08 December 09
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- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
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- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
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- Central Electricity Authority - India
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- Wilmar Investment Holdings
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- Central Java Power - Indonesia
- Indian Oil Corporation Limited
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- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
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