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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 14 January 15
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SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
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- Kaltim Prima Coal - Indonesia
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- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- ASAPP Information Group - India
- The University of Queensland
- White Energy Company Limited
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- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
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- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
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- Global Green Power PLC Corporation, Philippines
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- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
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- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
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- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
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- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- The Treasury - Australian Government
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- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
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- GMR Energy Limited - India
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