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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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Monday, 24 June 24
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- Parliament of New Zealand
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- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
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- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
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- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
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- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
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- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Minerals Council of Australia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
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- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
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- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
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- Therma Luzon, Inc, Philippines
- Planning Commission, India
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- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
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