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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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Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Merrill Lynch Commodities Europe
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- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
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- Sarangani Energy Corporation, Philippines
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- Minerals Council of Australia
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- Orica Mining Services - Indonesia
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- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
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- South Luzon Thermal Energy Corporation
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- Ministry of Transport, Egypt
- Deloitte Consulting - India
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- Indonesian Coal Mining Association
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- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
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- Eastern Coal Council - USA
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- Thiess Contractors Indonesia
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- Carbofer General Trading SA - India
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- Energy Development Corp, Philippines
- The Treasury - Australian Government
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- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- SMC Global Power, Philippines
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- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
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- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
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- The University of Queensland
- Singapore Mercantile Exchange
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- Tamil Nadu electricity Board
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- Larsen & Toubro Limited - India
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- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
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- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
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- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
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- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
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- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
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