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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, 27 August 21
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Tuesday, 24 August 21
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- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- PTC India Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
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