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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
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COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
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Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
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Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Therma Luzon, Inc, Philippines
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- Indika Energy - Indonesia
- Indogreen Group - Indonesia
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- Planning Commission, India
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- Parliament of New Zealand
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- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
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- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
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- White Energy Company Limited
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
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- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
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- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
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- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
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- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
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- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
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- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
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- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
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- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
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- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
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- Videocon Industries ltd - India
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- Deloitte Consulting - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
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- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
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- Economic Council, Georgia
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- Ministry of Finance - Indonesia
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