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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, 14 December 16
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Tuesday, 13 December 16
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Monday, 12 December 16
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- Thai Mozambique Logistica
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- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- India Bulls Power Limited - India
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- Africa Commodities Group - South Africa
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- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
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- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
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- The Treasury - Australian Government
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- Australian Commodity Traders Exchange
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- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
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- Altura Mining Limited, Indonesia
- Economic Council, Georgia
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- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
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- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
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- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- The University of Queensland
- Larsen & Toubro Limited - India
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- Miang Besar Coal Terminal - Indonesia
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- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
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- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Planning Commission, India
- Mjunction Services Limited - India
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- ICICI Bank Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
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- Maheswari Brothers Coal Limited - India
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- Mintek Dendrill Indonesia
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- Commonwealth Bank - Australia
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- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
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- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
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- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
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- Samtan Co., Ltd - South Korea
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