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