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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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Wednesday, 04 December 19
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Monday, 02 December 19
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- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Altura Mining Limited, Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
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- Commonwealth Bank - Australia
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- Energy Link Ltd, New Zealand
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- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
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- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
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- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
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- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
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- Indonesian Coal Mining Association
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- Vizag Seaport Private Limited - India
- Minerals Council of Australia
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- London Commodity Brokers - England
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- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
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- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Marubeni Corporation - India
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- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
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- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
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- Attock Cement Pakistan Limited
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- Iligan Light & Power Inc, Philippines
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- Chamber of Mines of South Africa
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- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
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- Economic Council, Georgia
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- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
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- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
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- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
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- Australian Commodity Traders Exchange
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Larsen & Toubro Limited - India
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- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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