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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, 17 October 18
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Monday, 08 October 18
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- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
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- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
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- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
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- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
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- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
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- Africa Commodities Group - South Africa
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- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
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- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
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