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