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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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Friday, 01 May 20
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- Semirara Mining Corp, Philippines
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- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
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