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