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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, 15 July 10
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Tuesday, 13 July 10
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Tuesday, 13 July 10
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- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
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- Planning Commission, India
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- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- The University of Queensland
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- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
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- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
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- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
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