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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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- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
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- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
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- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
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- Chamber of Mines of South Africa
- Eastern Coal Council - USA
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- Indian Oil Corporation Limited
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- The University of Queensland
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- India Bulls Power Limited - India
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- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
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- GMR Energy Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
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- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
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- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
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- Australian Commodity Traders Exchange
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- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
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- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
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- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
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- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
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- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
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- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
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