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