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