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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, 08 October 14
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- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
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