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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, 25 July 16
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CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
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- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
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