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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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Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
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Wednesday, 25 March 20
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Tuesday, 24 March 20
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- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Central Electricity Authority - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
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