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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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Friday, 14 February 20
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- Indo Tambangraya Megah - Indonesia
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- Electricity Authority, New Zealand
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- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Meralco Power Generation, Philippines
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- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- The Treasury - Australian Government
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- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Parliament of New Zealand
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
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- Economic Council, Georgia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
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- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
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- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
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- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
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- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
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- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
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- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
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- Pendopo Energi Batubara - Indonesia
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