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CKA - Cokal Limited

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Thanks @TLS for keeping us up to speed with CKA.

Once Indonesia gets through its waves of Covid I'm tipping it as another India.

The chart of CKA is interesting. I enclose a weekly over the last 3 years. Now may be a time to get set, or closer to $0.12.



gg
 
Another update released today ...

Cokal’s BBM Metallurgical Coal Mine Operations & Barging Update
Key Highlights

▪ Metallurgical coal production at BBM mine ongoing, with coal being hauled to the Krajan Jetty for loading onto barges and shipment

▪ Second barging journey now complete – barging operations from Krajan to Batu Tuhup jetty ongoing and set to accelerate with fleet expansion

▪ Cargo stockpiled at Batu Tuhup Jetty for domestic sales delivery

▪ Cokal to update the market on the following items in the near term

o Haulage road progress update
o Initial coal sales from the BBM Project
o Commencement of drilling activities at BBM (infill) and TBAR projects

More info and photos are included in the release for those interested ...
 
Another update released today ...

Cokal’s BBM Coal Haulage Road Update

Key Highlights

▪ BBM coal haulage road 95% complete and will be fully operational by April 2023

• Key milestone for CKA’s dual pronged logistics strategy, with haulage road to handle up to 70% of production volumes and support production ramp up

• Initial trucking trials scheduled for 3 rd week of March 2023, increasing to full capacity from April 2023 onwards

• Cokal to update the market on initial coal sales from the BBM Project by mid March 2023

More info is included in the release for those interested ...
 
Another update released today ...

Infill Drilling Commenced at Cokal’s BBM Metallurgical Coal Mine, Targetting Conversion of Resources to
additional Reserves. Batu Tuhup Jetty Construction to Commence

Key Highlights

▪ Cokal has commenced an infill drilling programme at the BBM Metallurgical Coal Mine

▪ Infill drilling is targetting conversion of BBM’s significant 260.2Mt resource base into additional reserves, translating to potential mine-life extensions and/or increased production capacity

▪ Batu Tuhup Jetty construction to commence in April 2023, with Cokal final preparations being completed

▪ The Batu Tuhup Jetty is a critical piece of infrastructure that will facilitate BBM production ramping-up more quickly.

More info is included in the release for those interested ...
 
Another update released today ...


Road Hauling Of Coal Successfully Commissioned At BBM Metallurgical Coal Mine

Key Highlights

▪ BBM’s Metallurgical Coal Mine has successfully conducted trial hauling via it’s newly commissioned road

• Additional trucks scheduled to arrive by the end of the month

• Initial trucks owned and operated by Cokal’s wholly owned logistics subsidiary

More info is included in the release for those interested ...
 
Quarterly report released yesterday ...

QUARTERLY REPORT FOR THE THREE MONTHS ENDING 31 MARCH 2023

Key Highlights

▪ Overburden removal and coal mining activities continued in Pit 3

▪ First coal from the BBM Mine was loaded from Krajan Jetty into Cokal’s barges and transported to Batu Tuhup Jetty

▪ Construction of the Haulage Road from BBM Pit 3 to the Batu Tuhup Jetty was completed and trial hauling has been successful. The Haulage Road is ready for transport of product coal

▪ Final preparations are being completed for Batu Tuhup Jetty construction which commenced in April 2023

▪ Infill drilling in-progress at BBM, which will form the basis of additional resource and reserve definition and potential expansion

More info is included in the release for those interested ...
 
Another update released today ...

Successful Development of Transport Infrastructure Supports Ramp-up of Metallurgical Coal Production at
BBM

Key Highlights

▪ Coal production at BBM continuing to ramp-up

▪ Cokal’s initial first fleet of haul trucks for coal transport continue hauling activities to the Batu Tuhup Jetty and additional new trucks have been delivered and are being commissioned

▪ Transport of Product Coal from BBM Pit 3 to Batu Tuhup Jetty via Haul Road is ramping-up

▪ Development process of the Coal Conveyor System has Commenced at the Batu Tuhup Jetty

More info and photos are included in the release for those interested ...
 
Another update released today ...

Metallurgical Coal Production from the BBM Mine is Ramping-up to Exploit Cokal’s Enhanced Transport
Infrastructure Capacity, which Continues to be Developed


Key Highlights

▪ Metallurgical coal production at the BBM Mine set to continue to ramp-up, supported by additional mining equipment arriving to site in May and June

▪ Cokal’s recently completed haul road to the Batu Tuhup Jetty and enhanced transport infrastructure capacity, supports increases in production at BBM

▪ Cokal continues to invest in the ongoing development of the logistics chain

▪ M Resources has conducted a site visit at BBM, post their strategic investment into Cokal, and as part of developing future collaboration opportunities

More info is included in the release for those interested ...
 
Another update released today ...


Batu Tuhup Permanent Jetty Development Update


Batu Tuhup Jetty Development Progress Report

- Conveyor System Development works have progressed as per schedule into week no. 6

- Contractor’s workforce already stationed at location

- Work progress achieved is 8.94%

- Joint lidar and topography survey ongoing

- Construction of on-site camp facilities and infrastructure continues

- Engineering Design complete

- Off-site fabrication works are being conducted at the contractor’s facility

- Procurement of the initial civil scope material including steel pipes, square piles, steel plates, and anchor system raw material is complete, with items now being dispatched to Batu Tuhup Jetty

- Procurement of piling equipment including a 160 ft barge, crane and diesel hammer is complete and the process of mobilisation is being finalised

More info and photos are included in the release for those interested ...
 
Another update released today ...

Domestic Coal Sales Update

Domestic Coal Sales Approaching

- Cokal soon expects to initiate a domestic sale of approximately 10Kt of oxidise coal from BBM, with the price based off the ICI thermal coal index

- Cokal’s domestic coal marketer, PT Sumber Global (SGE) continues to have difficulties arranging barges to collect coal from Cokal’s Batu Tuhup Jetty, as is stipulated in the Cokal-SGE contract

- As a contingency, Cokal has advanced discussions to charter two 4,000t barges on a long-term basis of six to twelve months

- Securing and controlling barging capacity from Batu Tuhup to Buntock strategically advantages Cokal and further fortifies the logistics chain strategy

- Cokal is hoping to finalise these arrangements in approximately two weeks

- Upon these barges arriving to the Batu Tuhup Jetty, Cokal would then initiate a sale to SGE, and would receive a portion of the payment immediately, as per the terms of the Cokal-SGE contract
 
Another update released today ...

Development of the Batu Tuhup Permanent Jetty Continues to Progress

Batu Tuhup Jetty Development Progress Report

- Crane Barge has arrived at Batu Tuhup Jetty

- Civil Works raw material delivered to jetty

- Jetty Infrastructure Development ongoing

- Road Hauling Operations including driver training, recruitment and initial maintenance facility

More info and photos are included in the release for those interested ...
 
Another update released today ...

Cokal advances infill drilling at BBM, targeting the conversion of BBM’s significant resource base into reserves. Exploration drilling to commence at TBAR

Key Highlights

▪ Infill drilling has progressed at BBM, targeting the conversion of BBM’s significant resource base into additional reserves, translating to potential mine-life extensions and/or increased production capacity

▪ Exploration drilling to commence at TBAR in H2 2023, with a declaration of a maiden JORC resource anticipated to follow shortly thereafter

More info and maps are included in the release for those interested ...
 
My pick for the Jul23 stock picking comp ...

- Coal is out of the ground and stockpiled ready for sale ...
- Just waiting on some barges to move it ...

Maybe they'll finally get it done this month ...
 
Another update released today ...

Development of the Batu Tuhup Permanent Jetty Progressing Well, Barge and Sales Update

Key Highlights

▪ Development progress of the permanent jetty at Batu Tuhup has reached 38% completion

▪ The temporary jetty at Batu Tuhup is being utilised for coal loading / unloading until completion of the permanent jetty

▪ Key development milestones achieved include the commencement of piling work, foundations, rebar, and formwork

▪ Loading bay to facilitate 250ft coal barge loading complete

▪ Barging & ISP arrangements with vendor being finalised for long term charter of barges under BSN ranging from 210ft to 250ft on time charter to transport coal from Batu Tuhup Jetty to Intermediate Stockpile to facilitate deliveries to domestic and export market

▪ First batch of coal (approximately 15000mt) will be sold as high grade thermal & PCI to domestic market upon arrival of barges

More info and photos are included in the release for those interested ...
 
Another update released today ...

First revenue from coal sales approaching. Ramp-up of metallurgical coal production from BBM is continuing,
supported by Cokal’s transport infrastructure
Key Highlights

▪ First revenue from coal sales will soon be realised. Cokal is currently finalising sale arrangements with a domestic buyer in relation to documentation, barging and the Intermediary Stockpile (“ISP”)

▪ Metallurgical coal production at Cokal’s BBM Mine continues to ramp-up, with expansion of Pit-3 and the ROM stockpile

▪ Transport of product coal from BBM to the Batu Tuhup Jetty is operating efficiently via Cokal’s two-pronged logistics strategy, with trucking via the newly commissioned haul road and barging from the Krajan Jetty

▪ Infill Drilling at BBM has progressed with a total of 27 holes drilled for 1,170 meters, targeting the conversion of BBM’s significant resource base into additional reserves, translating to potential mine-life extensions and/or increased production capacity

More info and photos are included in the release for those interested ...
 
Another update released today ...


QUARTERLY REPORT FOR THE THREE MONTHS ENDING 30 June 2023

Key Highlights

▪ Metallurgical coal production at the BBM Mine is set to continue to ramp-up, supported by additional mining equipment

▪ The BBM mining contractor is scheduled to deliver an additional two fleets of mining equipment from August (bringing the total to four fleets) to facilitate production expansion

▪ Expansion of ROM Stockpile at Pit 3 complete

▪ Barging activities from Krajan Jetty to Batu Tuhup Jetty continues

▪ Cokal’s recently completed haul road to the Batu Tuhup Jetty and enhanced transport infrastructure capacity, supports increases in production at BBM

▪ Cokal soon expects to initiate a domestic sale of approximately 15Kt of coal from BBM

▪ Infill drilling has progressed at BBM, targeting the conversion of BBM’s significant resources base and for planning current mining sequence, translating to potential mine-life extensions and/or increased production capacity

▪ Exploration drilling to commence at TBAR in H2 2023, with a declaration of a maiden JORC resource anticipated to follow shortly thereafter

▪ Cokal’s wholly owned subsidiary PT BSN acquired a fleet of 13 brand new trucks to facilitate coal hauling from Pit 3 to Batu Tuhup Jetty

▪ Batu Tuhup Jetty Infrastructure and Coal handling conveyor development ongoing, a progress of 38% was achieved as of June 2023

▪ M Resources has conducted a site visit at BBM, post their strategic investment into Cokal, and as part of developing future collaboration
opportunities

More info and photos are included in the release for those interested ...
 
My pick for the Sep23 stock picking comp ...

- Coal is out of the ground and stockpiled ready for sale ...
- Just waiting on some barges to move it ...

Maybe they'll finally get it done this month ...
 
Another update released today ...

Receipt of Jetty Operations Permit for the BBM Metallurgical Coal Mine

Cokal Limited (Cokal) (ASX: CKA) is pleased to announce that it has received a Jetty Operations Permit for the operations associated with the Bumi Barito Mineral (BBM) metallurgical coal mine (Cokal 60%). The delay encountered for the issuance of the permit was due to additional regulatory compliance and are lengthy processing time.

The process of securing this permit led to unanticipated delays in Cokal’s first sale of coal. Notwithstanding, Cokal is now excited to move forward with the immediate priority of scheduling the maiden shipment of BBM coal at the earliest possible time. Cokal’s team is working diligently to finalize the shipment schedule with the buyer, and will provide updates as we finalise first coal sales for the domestic market.
 
Another update released today ...


First Revenue from Coal Sales Pending Increased Water Levels on the Barito River


Key Highlights

▪ First coal sales to be achieved as soon as water levels increase, with customers’ barges ready to collect coal from the Batu Tuhup Jetty

▪ Successful commissioning of the Coal Screening Plant at Batu Tuhup Jetty, to upgrade shipped coal quality

▪ Significant progress has been achieved on development works at the Batu Tuhup Permanent Jetty

More info and photos are included in the release for those interested ...
 
Another update released today ...

Cokal Appoints a New Mining Contractor to Replace CBQ for the BBM Mine. Mobilisation of mining fleet has
commenced


Key Highlights

▪ Cokal has appointed LLB, as the main mining contractor, to provide mining services at the BBM Mine on non exclusive basis

▪ Negotiations have resulted in achieving reduced costs with increased annual production potential

▪ The contractor shall be responsible for undertaking Over Burden removal works, coal getting and inpit transport from pit to rom which was previously handled in house by BBM

▪ Mobilisation process for 2 Fleets of 80T class together with other support equipment has started

More info is included in the release for those interested ...
 
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