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