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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
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
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- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
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- PTC India Limited - India
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- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
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- Sindya Power Generating Company Private Ltd
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- Bhushan Steel Limited - India
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- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
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- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
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- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
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- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
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- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
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- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
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