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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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Thursday, 30 January 20
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- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- PTC India Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
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