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