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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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Saturday, 11 January 20
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Thursday, 09 January 20
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Thursday, 09 January 20
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- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
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