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