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