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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, 04 February 20
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Sunday, 02 February 20
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- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
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