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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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Tuesday, 12 April 16
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- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
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- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
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- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Petron Corporation, Philippines
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- Parliament of New Zealand
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- Ministry of Transport, Egypt
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- London Commodity Brokers - England
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- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Baramulti Group, Indonesia
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- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
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- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
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- European Bulk Services B.V. - Netherlands
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- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- Goldman Sachs - Singapore
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- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
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- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
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- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
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- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
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- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
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