CKA - Cokal Limited

[TLS]

Another update released today ...

Replacement Mining Contractor Set to Ramp-up Production at the BBM Metallurgical Coal Mine

Key Highlights

▪ Mining fleet from new mining services contractor is arriving at the BBM Mine site, via the Batu Tuhup Jetty

▪ First coal sales approaching, given rising river levels at the Batu Tuhup Jetty from sporadic rainfall

More info and photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Barging of BBM Coal has Resumed along the Barito River

Key Highlights

▪ Water levels have now risen to safe operating levels from recent rainfalls

▪ Barging of BBM coal from the Krajan Jetty to the Batu Tuhup Jetty has restarted, with three barges already successfully completing the trip

▪ Scheduling of customer barges to collect coal from the Batu Tuhup Jetty is now the primary focus, with Cokal to provide further updates as soon as possible

▪ First revenue will be realised by Cokal upon the loading of BBM coal onto customer barges at the Batu Tuhup Jetty.

More info and photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Mining Recommences Ahead of Schedule at the BBM Metallurgical Coal Mine

Cokal Sales Update

- First coal sale is finalised and awaiting finalisation of shipping schedule, further information will be provided

Coal Mining Recommences Ahead of Schedule at the BBM Metallurgical Coal Mine

- Coal mining operations at BBM Pit 3 have recommenced ahead of schedule

- The new mining contractor was able to successfully commence overburden removal, subsequent to the commissioning of the requisite mining equipment.

More info and photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Cokal Achieves First Revenue from Sale of 23,000t of Metallurgical Coal to International Commodity Trade Pte
Ltd under the exclusive off take agreement for international market

Cokal Achieves First Revenue from Coal Sales

- Cokal has sold ~23Kt of metallurgical coal to International Commodity Trade PTE LTD (ICT) from the BBM coal mine, comprising of:
i. 8,000 mt coking coal;
ii. 15,000 mt PCI coal.

- This sale will generate immediate revenue for BBM and Cokal

- Cokal has been paid 80% of the anticipated revenue from this sale by ICT as per the terms of the International Coal Marketing Agreement (ICMA)

- The coal has been sold into the export market as pricing and terms are superior to what is available in the Indonesian domestic market

- Domestic sales of coking coal and PCI coal to local end user clients in Morowali, Sulawesi are anticipated to commence in early 2024.

Coal Marketing via ICT

Cokal has previously announced that it has entered into the ICMA with ICT. This facilitates the sale and payment of the proceeds of coal sales in the export market so that Cokal / BBM can receive funds immediately, thereby enhancing conversion of coal stock piles to cash in a timely manner.

ICT carries the timing and credit risk for the final sale to the end user. Cokal receives the full sales price, less a 6% discount off the final sale amount to the end user, from ICT.

Cokal references the ICMA entered into with ICT (announced 14 July 2021 and amended 24 December 2021).

- The ICMA was entered into as part consideration for ICT providing Cokal / BBM with US$20m of capital to fund the development of BBM

- The ICMA provides ICT with the marketing rights for BBM coal sold on international markets, and the ability to purchase coal from BBM at the same price and terms as other customers

- The terms of the ICMA provide for BBM to receive 80% of the coal price upon the loading of barges from the Intermediate Stockpile

 

[TLS]

Another update released today ...

Continuing Development of Infrastructure Supports Ramp-up of Coal Production from Q1 2024

Key Highlights

▪ Barging of stockpiled saleable coal from the Krajan Jetty to the Batu Tuhup Jetty is ongoing and uninterrupted

▪ Cokal’s 100% owned infrastructure company, PT BSN, is running at maximum capacity, utilising the previously acquired fleet of tug boats and barges

▪ PT BSN recently completed the commissioning of a floating fuel storage at Batu Tuhup Jetty with 400,000L capacity, which is now in use to support ongoing mining, barging, hauling and development operations

▪ Development of the Batu Tuhup Permanent Jetty has advanced with significant progress on the coal conveyor belt, weighbridge installation, civil works and coal stock pile expansion

▪ Ramp-up of forecast saleable coal production from Q1 2024 is facilitated by this continued development of additional critical infrastructure.

More info and photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Batu Tuhup Jetty Update

- Installation and commissioning of the weighbridge is on schedule and has achieved an overall progress of 60%. Scheduled to be completed by 31 January 2024

- Coal screening for quality control and product enhancement is ongoing for BBM Seam J Coking Coal. All coal arriving at the Batu Tuhup Jetty is being screened to achieve better quality standards for our final product

Barging of coal from Krajan to the Batu Tuhup Jetty

- Safe Operating water levels have allowed ongoing barging of coal from Krajan jetty to Batu Tuhup with minor delays in the last week of December 2023 due to temporarily low water levels in certain critical sections.

Haul Road Improvement Plan

- Upgrade of the haul road for increased capacity and enhanced safety will proceed, with the main focus on the critical road sections from KM 70 to Pit 3

- Upgrade works will require an estimated four months to complete, but will not impact Cokal’s ongoing hauling activities

- Further details on the upgrade strategy and plans will be provided in an upcoming announcement.

Some photos are included in the release for those interested ...

 

[TLS]

Another update released today ...


Ramp-up of Coal Production Facilitated by Capacity Upgrades of the Haul Road to Batu Tuhup Jetty

Key Highlights

▪ Ramp-up of Cokal’s metallurgical coal production requires upgrades of the haul road used to transport product coal to the Batu Tuhup Jetty

▪ Further development of the haul road will increase both coal transport capacity and operational efficiency, resulting in a reduction in per tonne operating costs

▪ Planned works will increase truck carrying capacity and cut trip times, through a reduction of the road gradient at critical sections and the upgrade of the road to all-weather standards

More info and photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Coal Sales Update

- Cokal anticipates that from February 2024, it will initially achieve one sales contract per month

- Sales forecasts are based upon BBM’s ramp-up of saleable production, which has been agreed with the mining contractor

- Forecast sales are sales comprise of a combination of domestic and export sales, depending on the best price realisation for Cokal

- Payment terms for sales remain as previously announced under Cokal’s various offtake and marketing arrangements

- SGE remains contracted to purchase product for the domestic market but they have not provided any sales at this point due to their concentration on other thermal coal projects. This has not impacted Cokal’s sales opportunities as there are a number of parties both domestic and international seeking BBM product. The underlying financial arrangement is based on SGE’s coal sales only and as such does not affect Cokal’s financial and coal sales profile.

Batu Tuhup Permanent Jetty Construction

- Weighbridge works at the Batu Tuhup Jetty have progressed as per schedule and have achieved 70% progress

- Load cells and other materials have been dispatched to the site and installation is expected to be completed by end of January

- Conveyor fabrication works are ongoing and structural works involving 75t of steel have been completed, with an additional 25t of fabrication in progress

Some photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Metallurgical Coal Sales Update – Barges Arriving at the Batu Tuhup Jetty

Coking Coal Sales Update

- Cokal has sold 8,000 tonnes of metallurgical coal to a local Indonesian smelter in Morowali

- Cokal is selling coking coal mined from BBM Seam J at a price based on the CIF Taboneo Anchorage price

- 2 x 250ft barges will transport coal to the Taboneo anchorage from Cokal’s Batu Tuhup Jetty. These barges are currently in transit to Batu Tuhup Jetty and will arrive within this week

- Cokal anticipates that this buyer will be an ongoing monthly customer for BBM Coking Coal

 

[TLS]

Another update released on 21Mar24...

Cokal Secures a 12-month Revenue Stream by Chartering Barges to Ensure Continuous Delivery of BBM Coal to Market Barges are enroute to Batu Tuhup Jetty

Key Highlights

- Cokal charters two sets of 230ft jumbo barges with total capacity of approximately 8,000 tonnes, to transport coal from the Batu Tuhup Jetty to the Taboneo Anchorage for onward shipment

- The 12-month charter agreement will ensure Cokal is able to continuously deliver BBM product coal to seaborne and domestic markets, securing a constant stream of revenue

- The barges are currently enroute to the Batu Tuhup Jetty and are expected to arrive on 24 March and 26 March respectively

More info and photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Cokal Receives Payment from the Loading of 7,500 tonnes of Product Coal on to Barges at the Batu Tuhup Jetty

Key Highlights

- Two barges have arrived at Cokal’s Batu Tuhup Jetty and have commenced loading of product coal for shipment (please refer to ASX announcement dated 21 March 2024)

- The barges will transport 7,500 tonnes of high-grade thermal coal product to Sumbar Global (SGE), which has been sold under the existing offtake contract

- BBM has received payment of 50% of the coal value from SGE as per the terms of the offtake contract

- BBM will receive the balance of the sale upon the coal being delivered to the Taboneo Anchorage

More info and photos are included in the release for those interested ...

 

[TLS]

My pick again for the Apr24 stock picking competition ...

- things are slowly starting to fall into place and constant revenue should now be rolling in most months (subject to river conditions)

 

[TLS]

Another update released today ...


Barges Carrying 7,600 tonnes of Product Coal from Cokal’s BBM Mine are Due to Arrive at the Taboneo Anchorage. Additional Sales of BBM Coking Coal Have Already Been Contracted

Key Highlights

▪ Two barges carrying 7,600 tonnes of product coal from the BBM Mine are expected to arrive at the Taboneo Anchorage for transshipment on 4 April 2024

▪ The coal has been sold to Sumbar Global (SGE), under the existing offtake contract, with the coal destined for the Global seaborne export market

▪ BBM has received payment of 50% of the coal’s value from SGE. Now that the barges have departed Batu Tuhup jetty the balance will be received as per the previously agreed terms and conditions under the offtake contract, subject to documentation and adjustments for coal quality and tonnages

▪ The transshipment process requires one to two days, after which the barges will embark on the six-day return journey to the Batu Tuhup Jetty for reloading

▪ Additional sales of BBM coking coal have already been contracted

▪ The loading of product coal on to Cokal’s barges will commence immediately upon their arrival at the Batu Tuhup Jetty, for shipment to customers

Photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Clarification Regarding Contracted Coal Sales

Cokal Limited (Cokal) (ASX: CKA) provides the following clarification regarding additional contracted coal sales referred to in ASX announcements dated 3 April 2024 and 27 February 2024.

Cokal stated in these announcements that it has entered into a contract for the sale of metallurgical coal. Cokal is now pleased to update the market with the below additional details regarding the contract:

- Buyer: PT Risun Wei Shan Indonesia (“Risun”)

Risun is one of the largest suppliers of coke in the world and owns and operates one of largest coke plants in Morowali, Indonesia, with an annual consumption of ~3.0+ million tonnes of metallurgical coal. Risun is anticipated to be a long-term domestic customer for BBM’s coking coal product, and therefore the contract represents an important milestone for Cokal.

- Product and pricing: Contract is for the sale of BBM Coking Coal, sold at a price referenced to the CIF Taboneo Anchorage index price, adjusted for coal quality and product specifications.

- Quantity: 7,500 tonnes (+/-10% at Cokal’s option).

- Shipping Terms: FOB Mother Vessel (“MV”) at Taboneo Anchorage, South Kalimantan.

- Payment Terms: Payment to be made to Cokal via TT, within 7 days post loading MV, and upon completion of required standard documentation including Certificate of Analysis and Certificate of Weight.

 

[TLS]

Another update released today ...

Coal Barges Returning to Batu Tuhup to Re-load after Successfully Delivering 7,600 tonnes of Product Coal from Cokal’s BBM Mine

Key Highlights

▪ Two barges, carrying 7,600 tonnes of product coal from the BBM Mine, have successfully unloaded their cargo at the Taboneo Anchorage

▪ The coal was sold to Sumbar Global (SGE), under the existing offtake contract

▪ The barges are now returning to the Batu Tuhup Jetty for the immediate reloading of BBM coking coal, which will be shipped to Risun under the previously announced existing sales contract (refer announcement, 4 April 2024)

Photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Cokal’s Coal Barges Return to Batu Tuhup and are now Loading Coking Coal for Immediate Delivery. BBM
Metallurgical Coal Production set to Ramp-up to Drive Additional Coal Sales

Key Highlights

▪ Cokal’s coal barges have returned to the Batu Tuhup Jetty and are currently loading coking coal for delivery to PT Risun Wei Shan Indonesia ("Risun") under an existing sales contract (please refer to ASX announcement on 4 April 2024)

▪ Metallurgical coal production from the BBM Mine is ramping-up to drive additional coal sales, with additional mining equipment already arriving at the BBM mine-site

▪ Two new mining fleets are scheduled to arrive at BBM by the end of April, resulting in a total of five mining fleets operating at BBM

Photos are included in the release for those interested ...

 

[TLS]

Another update released last Friday...

Cokal’s Barges Complete Delivery of ~7,700 tonnes Low-Vol Coking Coal at the Taboneo Anchorage. Barges are now returning to Batu Tuhup for next shipment

Key Highlights

▪ Cokal’s coal barges have delivered ~7,700 tonnes of BBM low-vol coking coal product at the Taboneo Anchorage to PT Risun Wei Shan Indonesia ("Risun") under the existing sales contract (please refer to ASX announcement on 4 April 2024)

▪ The barges are now returning to the Batu Tuhup Jetty for loading next shipment and are expected to arrive on or around 30 April 2024

Photos are included in the release for those interested ...

 

[TLS]

Another update released today ...

Cokal ramps up production and infrastructure at BBM Metallurgical Coal Mine

Key Highlights

▪ BBM Mining contractor has mobilised 3 additional mining fleets to Krajan

▪ Equipment already arriving at Krajan

▪ Construction of additional camp facilities

▪ Batu Tuhup Weigh Bridge complete

▪ Additional road upgrades inside jetty area

▪ Screening of Seam J product

More info and photos are included in the release for those interested ...

 

[qldfrog]

is the PR department on ADHD drug?
I am not sure shareholders need to know of every tent being raised n a mining camp...
PS: I like Cokal but believe any value is lost among these non stop trivial releases