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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, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
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Thursday, 01 July 21
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Thursday, 01 July 21
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Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
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- PowerSource Philippines DevCo
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- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
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- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
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- Antam Resourcindo - Indonesia
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- Thai Mozambique Logistica
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- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
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- Global Coal Blending Company Limited - Australia
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- Orica Mining Services - Indonesia
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- Bhatia International Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
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- IEA Clean Coal Centre - UK
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- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
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- Krishnapatnam Port Company Ltd. - India
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- Electricity Authority, New Zealand
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- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
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- Africa Commodities Group - South Africa
- VISA Power Limited - India
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- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
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- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
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- Wilmar Investment Holdings
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
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- Economic Council, Georgia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
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- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
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