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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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Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
Friday, 07 June 13
MEDITERRANEAN COAL MARKETS
Press Release: 3rd International Conference Mediterranean Coal Markets will be held on 16-17th of September 2013, Istanbul, Turkey, Ceylan Intercont ...
Friday, 07 June 13
US'S COAL PRODUCTION INCREASED BY 0.54 PER CENT THE WEEK ENDED JUNE 1
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.60 million short tons (mmst) of ...
Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...
Wednesday, 05 June 13
DON'T AVOID PAYING COAL ROYALTY TO THE GOVERNMENT - INDONESIAN ENERGY MINISTER
COALspot.com – “Every country has the right to make policies to protect their national interests”, Energy and Mineral Resources Mi ...
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- GVK Power & Infra Limited - India
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- London Commodity Brokers - England
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- Planning Commission, India
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- Merrill Lynch Commodities Europe
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- South Luzon Thermal Energy Corporation
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- Metalloyd Limited - United Kingdom
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- Singapore Mercantile Exchange
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- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
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- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
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- Economic Council, Georgia
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- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
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- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
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- Ministry of Transport, Egypt
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
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- Kepco SPC Power Corporation, Philippines
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- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
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- Eastern Coal Council - USA
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- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
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