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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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Saturday, 01 February 20
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Friday, 31 January 20
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- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
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