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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, 13 November 19
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- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- White Energy Company Limited
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- ASAPP Information Group - India
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