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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, 12 December 16
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- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Eastern Coal Council - USA
- The University of Queensland
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
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