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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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Wednesday, 25 March 20
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- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
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