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