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