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