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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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Wednesday, 29 May 19
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- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
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