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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, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
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THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
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Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
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Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
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- Posco Energy - South Korea
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- Planning Commission, India
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- Bulk Trading Sa - Switzerland
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indonesian Coal Mining Association
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- McConnell Dowell - Australia
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- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
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- Rio Tinto Coal - Australia
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- Directorate Of Revenue Intelligence - India
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- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
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- Australian Coal Association
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
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- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
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- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
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- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
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- Ministry of Transport, Egypt
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- Trasteel International SA, Italy
- Romanian Commodities Exchange
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- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
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- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
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- The State Trading Corporation of India Ltd
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- Grasim Industreis Ltd - India
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- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
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- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
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- The University of Queensland
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- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
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- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
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- Indian Oil Corporation Limited
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