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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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Saturday, 05 September 09
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- CNBM International Corporation - China
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- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
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- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
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- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
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- Chamber of Mines of South Africa
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- Independent Power Producers Association of India
- Mjunction Services Limited - India
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- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
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- McConnell Dowell - Australia
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- Trasteel International SA, Italy
- Eastern Coal Council - USA
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- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
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- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
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- Carbofer General Trading SA - India
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- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
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- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Minerals Council of Australia
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- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
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- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
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- Deloitte Consulting - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
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- Chettinad Cement Corporation Ltd - India
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- VISA Power Limited - India
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- White Energy Company Limited
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- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
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- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
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- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
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