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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, 29 June 16
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Tuesday, 28 June 16
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Tuesday, 28 June 16
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Monday, 27 June 16
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Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
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- Siam City Cement - Thailand
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- Mercuria Energy - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Electricity Authority, New Zealand
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- Indonesian Coal Mining Association
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- Orica Australia Pty. Ltd.
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- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
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- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
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- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
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- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
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- White Energy Company Limited
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- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
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- Africa Commodities Group - South Africa
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- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
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- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
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- Sinarmas Energy and Mining - Indonesia
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- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
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- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
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- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- New Zealand Coal & Carbon
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- PTC India Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
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- Indian Oil Corporation Limited
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- Thai Mozambique Logistica
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- Toyota Tsusho Corporation, Japan
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- Bukit Makmur.PT - Indonesia
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- Star Paper Mills Limited - India
- Latin American Coal - Colombia
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- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
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- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
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- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
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