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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, 25 November 15
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- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
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- Anglo American - United Kingdom
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Goldman Sachs - Singapore
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- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
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- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
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- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
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- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
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- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Economic Council, Georgia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
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- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
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- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
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