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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, 01 June 15
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Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
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- The University of Queensland
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- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
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- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
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- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
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- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
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- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
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- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
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- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
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- Africa Commodities Group - South Africa
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- Ministry of Transport, Egypt
- Australian Coal Association
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- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
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- Vedanta Resources Plc - India
- Mercator Lines Limited - India
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- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
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- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
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- Tamil Nadu electricity Board
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- Bangladesh Power Developement Board
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