- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Challenger Deep Resources Signs LOI to Sell Barito Coal Project
Challenger Deep Resources Corp. (“Challenger” or the “Company”) (TSX VENTURE:CDE) is pleased to announce that it has entered into a binding Letter of Intent (“LOI”) for the sale of its Barito coal project in Central Kalimantan, Indonesia. Under the terms of the LOI the purchaser, a private Australian company, will purchase all of the outstanding shares of PT Bestindo Energy, a wholly-owned subsidiary of Challenger which holds all of the Corporations rights to the Barito project.
As quoted in the press release:
The purchase price under the LOI is $2 million (USD) payable as to $50,000 on signing of the LOI, $100,000 on signing the formal Conditional Share Purchase and Sale Agreement (“CSP&SA”), $150,000 within 60 days of signing the CSP&SA, $500,000 on preliminary forestry permit approval for the project and $1,200,000 on final approval of the forestry permit and commencement of commercial production. Challenger will also be granted a royalty of $2 (USD) per ton on all coal produced from the project lands and from lands within a 2 km area of interest surrounding the project lands in which the purchaser may acquire further coal rights.
Click here to read the Challenger Deep Resources (TSXV:CVE) press release
Click here to see the Challenger Deep Resources (TSXV:CVE) profile.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.