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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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Friday, 26 November 21
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- PowerSource Philippines DevCo
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- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
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- Independent Power Producers Association of India
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- Tamil Nadu electricity Board
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- Bulk Trading Sa - Switzerland
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- The State Trading Corporation of India Ltd
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- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Minerals Council of Australia
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- The Treasury - Australian Government
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- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
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- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
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- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
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- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
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