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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, 10 August 22
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Saturday, 06 August 22
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Saturday, 30 July 22
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- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
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