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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
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Tuesday, 04 August 20
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Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
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- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- GMR Energy Limited - India
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- The University of Queensland
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- Australian Commodity Traders Exchange
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- Simpson Spence & Young - Indonesia
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- Edison Trading Spa - Italy
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- White Energy Company Limited
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- VISA Power Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
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- Indian Oil Corporation Limited
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- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
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- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
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- MS Steel International - UAE
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- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
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- Chamber of Mines of South Africa
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- Australian Coal Association
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- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
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- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
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- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
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- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
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- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
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