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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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Monday, 18 May 20
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Friday, 15 May 20
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- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
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- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
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- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
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