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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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Thursday, 30 January 20
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- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
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