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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, 14 January 20
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ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
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- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
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- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
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- Ministry of Transport, Egypt
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- Port Waratah Coal Services - Australia
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- Energy Development Corp, Philippines
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- Energy Link Ltd, New Zealand
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- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
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- Xindia Steels Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
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- Thiess Contractors Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
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- Indian Oil Corporation Limited
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- Aditya Birla Group - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
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- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
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- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
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- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
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- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
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- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
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- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
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- ASAPP Information Group - India
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- India Bulls Power Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
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- Electricity Authority, New Zealand
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- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
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- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
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- McConnell Dowell - Australia
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- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
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