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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, 10 October 12
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Tuesday, 09 October 12
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Saturday, 06 October 12
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- CNBM International Corporation - China
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- The Treasury - Australian Government
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- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
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- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
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- Power Finance Corporation Ltd., India
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- Parliament of New Zealand
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- South Luzon Thermal Energy Corporation
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- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
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- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
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- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
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- The University of Queensland
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- Coal and Oil Company - UAE
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- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
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- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
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- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
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- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
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