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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, 03 October 18
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Tuesday, 02 October 18
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- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
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