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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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Friday, 18 September 20
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Friday, 11 September 20
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- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
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