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