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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 18 June 15
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KNOWLEDGE TO ELEVATE
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The Q3 swap was up US$ 1.70 ...
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- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
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- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
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- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
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- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Australian Coal Association
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- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
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- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
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- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
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