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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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Sunday, 22 December 19
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- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- PTC India Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
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