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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, 02 December 10
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Monday, 29 November 10
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Sunday, 28 November 10
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Overall the market seems to be ...
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- Price Waterhouse Coopers - Russia
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- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
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- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
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- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
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- Kumho Petrochemical, South Korea
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- Jorong Barutama Greston.PT - Indonesia
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- Chamber of Mines of South Africa
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- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
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- McConnell Dowell - Australia
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- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
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- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
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- SN Aboitiz Power Inc, Philippines
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- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
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- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
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- Malabar Cements Ltd - India
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- New Zealand Coal & Carbon
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- AsiaOL BioFuels Corp., Philippines
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- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
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- The University of Queensland
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- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Australian Coal Association
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
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- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
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- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
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