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