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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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Sunday, 09 December 12
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- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
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- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- London Commodity Brokers - England
- The Treasury - Australian Government
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
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