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