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