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