Challenger Deep Resources Announces Expansion of Alam Bahteria Barito Raya Project

Challenger Deep Resources Corp. (TSXV:CDE) announced that through its subsidiary, PT Bestindo Energy, it will purchase all of the shares of PT HAAS , which will grant them wider access to mine and market coal from the Alam Bahteria Barito Raya Project in Indonesia.

As quoted in the press release:

The Exclusivity Agreement with HAAS gives Challenger the exclusive right, for a period of sixty days, to conduct due diligence on the HAAS assets, including the coal “Mining Operation-Production Agreement” for the ABBR project and its related mining infrastructure, and to purchase the HASS shares if it is satisfied with the due diligence review. The Mining Operation-Production Agreement will give Challenger control of all coal production and marketing within the ABBR project area.

To view the whole press release, click here.