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