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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, 21 May 14
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Monday, 19 May 14
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- Global Green Power PLC Corporation, Philippines
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- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Georgia Ports Authority, United States
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- Savvy Resources Ltd - HongKong
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- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
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- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
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- Planning Commission, India
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- Indian Energy Exchange, India
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- Minerals Council of Australia
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- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
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- Semirara Mining and Power Corporation, Philippines
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- Gujarat Mineral Development Corp Ltd - India
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- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
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- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
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- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
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- Electricity Authority, New Zealand
- Economic Council, Georgia
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- Therma Luzon, Inc, Philippines
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- White Energy Company Limited
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
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- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
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- Renaissance Capital - South Africa
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- San Jose City I Power Corp, Philippines
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- Parliament of New Zealand
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- Samtan Co., Ltd - South Korea
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- Mintek Dendrill Indonesia
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- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
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