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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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Saturday, 20 June 20
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Friday, 19 June 20
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- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
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- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
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- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
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- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
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- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
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