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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Bangladesh Power Developement Board
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- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
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- European Bulk Services B.V. - Netherlands
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- Coal and Oil Company - UAE
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- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
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- Parliament of New Zealand
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- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
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- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
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- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
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- Merrill Lynch Commodities Europe
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- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
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- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
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- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
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- Global Business Power Corporation, Philippines
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- Tamil Nadu electricity Board
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- MS Steel International - UAE
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
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- Central Electricity Authority - India
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- Eastern Coal Council - USA
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- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
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- Minerals Council of Australia
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- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- GMR Energy Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
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- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
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