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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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Tuesday, 31 August 10
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Monday, 30 August 10
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Monday, 30 August 10
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The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
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- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
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- Barasentosa Lestari - Indonesia
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- Global Coal Blending Company Limited - Australia
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- International Coal Ventures Pvt Ltd - India
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- CNBM International Corporation - China
- Eastern Coal Council - USA
- Planning Commission, India
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- Parliament of New Zealand
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- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
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- The State Trading Corporation of India Ltd
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- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ceylon Electricity Board - Sri Lanka
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- CIMB Investment Bank - Malaysia
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- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
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- Sinarmas Energy and Mining - Indonesia
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- Trasteel International SA, Italy
- The University of Queensland
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- Oldendorff Carriers - Singapore
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- PetroVietnam Power Coal Import and Supply Company
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- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
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- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
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- Cement Manufacturers Association - India
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- Electricity Authority, New Zealand
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- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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- Agrawal Coal Company - India
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- Chamber of Mines of South Africa
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- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
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- Independent Power Producers Association of India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
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- Ministry of Finance - Indonesia
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- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
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- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
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- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- London Commodity Brokers - England
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- Altura Mining Limited, Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
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