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