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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, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- Vedanta Resources Plc - India
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- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
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- Parliament of New Zealand
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- Eastern Coal Council - USA
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- IHS Mccloskey Coal Group - USA
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- The State Trading Corporation of India Ltd
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- The Treasury - Australian Government
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- Planning Commission, India
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- LBH Netherlands Bv - Netherlands
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- White Energy Company Limited
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- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- The University of Queensland
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- Miang Besar Coal Terminal - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
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- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
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- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
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- Georgia Ports Authority, United States
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- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Kohat Cement Company Ltd. - Pakistan
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- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
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- Ministry of Transport, Egypt
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
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- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
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- Bangladesh Power Developement Board
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- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
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