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