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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, 25 April 16
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Tuesday, 19 April 16
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- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
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- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
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- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Siam City Cement - Thailand
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- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
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- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Planning Commission, India
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- Attock Cement Pakistan Limited
- MS Steel International - UAE
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
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- Posco Energy - South Korea
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- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
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- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
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- Essar Steel Hazira Ltd - India
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- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
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- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
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- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
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- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
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- Australian Coal Association
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- GAC Shipping (India) Pvt Ltd
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