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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
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- Indian Oil Corporation Limited
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- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
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- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
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- Indian Energy Exchange, India
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- Altura Mining Limited, Indonesia
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- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
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- Kaltim Prima Coal - Indonesia
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- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
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- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
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- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
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- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
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