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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, 23 February 10
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THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
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The BSI still decline as holidays around the world have reduced trading.
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- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
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- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
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- Kobexindo Tractors - Indoneisa
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- Energy Link Ltd, New Zealand
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- Wood Mackenzie - Singapore
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- The University of Queensland
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- Africa Commodities Group - South Africa
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- Singapore Mercantile Exchange
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- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indonesian Coal Mining Association
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- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
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- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
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- Vedanta Resources Plc - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
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- Power Finance Corporation Ltd., India
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- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
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- Petron Corporation, Philippines
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
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- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
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