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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, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
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- Petron Corporation, Philippines
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- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- SMG Consultants - Indonesia
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- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
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- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
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- Minerals Council of Australia
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- Parliament of New Zealand
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- Coalindo Energy - Indonesia
- Economic Council, Georgia
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- Ministry of Transport, Egypt
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- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
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- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
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- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
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- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
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- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
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- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
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- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
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- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
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- Ministry of Mines - Canada
- Medco Energi Mining Internasional
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