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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, 24 May 17
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- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
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