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