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