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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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Monday, 18 May 20
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Friday, 15 May 20
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- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Parliament of New Zealand
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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