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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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Wednesday, 24 March 21
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- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Indian Energy Exchange, India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
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