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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, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
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Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
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Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
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Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
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Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
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- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
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- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Thai Mozambique Logistica
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- Aditya Birla Group - India
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- Eastern Coal Council - USA
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- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Australian Coal Association
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- Petron Corporation, Philippines
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- Indogreen Group - Indonesia
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- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
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- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
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- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
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- Indonesian Coal Mining Association
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- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
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- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
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