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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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Monday, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
Friday, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
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- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
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- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
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- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Baramulti Group, Indonesia
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- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
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- CIMB Investment Bank - Malaysia
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- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
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- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
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- Coal and Oil Company - UAE
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- Deloitte Consulting - India
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- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
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- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
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- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
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- Renaissance Capital - South Africa
- Thai Mozambique Logistica
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- Economic Council, Georgia
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- Ministry of Finance - Indonesia
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- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
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- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
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- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
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- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
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