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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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Tuesday, 14 December 21
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Tuesday, 07 December 21
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- Indika Energy - Indonesia
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- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
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- Heidelberg Cement - Germany
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- Lanco Infratech Ltd - India
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- Ministry of Finance - Indonesia
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- Bulk Trading Sa - Switzerland
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- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Parliament of New Zealand
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- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
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- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
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- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
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- Sarangani Energy Corporation, Philippines
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- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
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- Romanian Commodities Exchange
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
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- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Eastern Coal Council - USA
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- The University of Queensland
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- LBH Netherlands Bv - Netherlands
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- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
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- Wilmar Investment Holdings
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- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
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