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