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