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