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