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