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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, 02 April 14
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Tuesday, 01 April 14
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Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
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- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
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- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
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- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
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- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
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- AsiaOL BioFuels Corp., Philippines
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- Sical Logistics Limited - India
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- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
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- Planning Commission, India
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- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
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- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
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- Ministry of Mines - Canada
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
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- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
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- India Bulls Power Limited - India
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- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
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- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
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- Dalmia Cement Bharat India
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- Economic Council, Georgia
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- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
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- Binh Thuan Hamico - Vietnam
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- Heidelberg Cement - Germany
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- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
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