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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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Friday, 14 June 24
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Friday, 14 June 24
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- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- The University of Queensland
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
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