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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, 29 December 20
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Tuesday, 22 December 20
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- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
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