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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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Wednesday, 05 August 15
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- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
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- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
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- Central Java Power - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Trasteel International SA, Italy
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- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
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- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
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- Bhushan Steel Limited - India
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- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
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- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
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- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
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- Vedanta Resources Plc - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
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- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
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- ASAPP Information Group - India
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- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- PTC India Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
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- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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