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