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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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Tuesday, 24 March 20
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Posco Energy - South Korea
- The University of Queensland
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
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