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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, 14 December 21
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Tuesday, 07 December 21
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- Standard Chartered Bank - UAE
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- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
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- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
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- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
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- Tata Chemicals Ltd - India
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- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
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- Indian Energy Exchange, India
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- Metalloyd Limited - United Kingdom
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- Global Coal Blending Company Limited - Australia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
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- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
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- Wilmar Investment Holdings
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- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
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- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
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- The Treasury - Australian Government
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- PTC India Limited - India
- Sojitz Corporation - Japan
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- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
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- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
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- Eastern Coal Council - USA
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- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
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- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
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- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Bhatia International Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
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- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
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- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
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- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
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