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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, 12 April 17
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Thursday, 06 April 17
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- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Planning Commission, India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
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