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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, 13 October 21
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- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
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