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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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Monday, 25 October 21
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- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- White Energy Company Limited
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
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