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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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Tuesday, 28 August 18
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Thursday, 23 August 18
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- PTC India Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
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