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