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