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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, 10 August 22
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Saturday, 30 July 22
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- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- VISA Power Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Australian Coal Association
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
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