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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, 07 November 16
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Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
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- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
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- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
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- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
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- Indian Oil Corporation Limited
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- Petron Corporation, Philippines
- Goldman Sachs - Singapore
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- Mintek Dendrill Indonesia
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- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
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- The University of Queensland
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- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Romanian Commodities Exchange
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- Independent Power Producers Association of India
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- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
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- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
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- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
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- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
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- New Zealand Coal & Carbon
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- Coal and Oil Company - UAE
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- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
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- Tata Chemicals Ltd - India
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- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
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- Minerals Council of Australia
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- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
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- European Bulk Services B.V. - Netherlands
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- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
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- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
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- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
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- GMR Energy Limited - India
- Tamil Nadu electricity Board
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- Directorate General of MIneral and Coal - Indonesia
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- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
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- Electricity Generating Authority of Thailand
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- OPG Power Generation Pvt Ltd - India
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- Eastern Coal Council - USA
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
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- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
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- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
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- Energy Link Ltd, New Zealand
- Planning Commission, India
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- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
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