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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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Thursday, 05 November 09
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Wednesday, 04 November 09
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- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- The University of Queensland
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
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