Australian (ASX) Stock Market Forum

CKA - Cokal Limited

springhill

Make the drill work for YOU
Joined
20 June 2007
Posts
2,555
Reactions
6
What are peoples' thoughts on this for a company with $100m MC and $26m in the bank

CKA

BOARD
Peter Lynch
- Executive Chairman, Mining Engineer, 25 years experience in mining; MIM, Shell Coal, MacArthur Coal, Open Cut & Underground, TSX and ASX:WCI.
Pat Hanna - Executive Director, Geologist, over 30 years experience all coal; Globally consulting on over 40 projects; strong Indonesian track record; exploration manager Riversdale; prior JORC committee member.
Jim Middleton - Managing Director, Mining Engineer, 30 years experience all coal; Corporate and operational roles with BHPB, Xstrata, Glencore, Exxon Coal, Coal & Allied; reputation for capital efficient reliable production.
Domenic Martino - Non-Executive Director, Former CEO, Deloitte Australia; ASX companies including Sydney Gas, Pan Asia, Clean Global Energy, NuEnergy Capital; Strong reputation in China and HKSE; over 12 years successful Indonesian energy and resource dealings with local partners.
Duncan Cornish - Company Secretary, Chartered Accountant, Ernst & Young and PWC; Successful IPO and RTO record on ASX, TSX and AIM listed companies

•Objective: Metallurgical coal producer by mid 2013

Bumi Barito Mineral Project
•High quality metallurgical coal project in Indonesia
•60 Mt JORC Inferred Resource – 60% Coking Coal & 40% PCI
•Low ash, low sulphur and high calorific value (Direct Shipping)

•60 Mt JORC inferred Resource from 8% of BBM lease area
*Calorific values range between 7,591-8,287 Kcal/kg


Announcement today flags possiblity of extra 200-350Mt resource.
http://www.asx.com.au/asxpdf/20120627/pdf/42727wrhkbgt9x.pdf

BBP
60/40 with local owner, PMA company ownership structure. 13k ha directly adjacent to BHP, Maruwai. Has bright coal seam outcrops, laboratory tests indicate low in-situ ash, low sulphur, ultra-low phosphorous and high energy
•2 drill rigs in place
•Targeting potential production commencing 2014

COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA (BBP) AND BUMI BARITO MINERAL (BBM) PROJECTS
http://www.asx.com.au/asxpdf/20120601/pdf/426lyf6p07rnqt.pdf

The designation of “Clean and Clear” provides confidence to mining companies that the validity of their mining concession, in this case Cokal’s flagship project BBM and the equally prospective BBP project has been confirmed by MMER. Importantly, the listing confirms that there are no overlapping or conflicting concessions for either project. The listing further confirms that Cokal has met its ongoing exploration obligations in regard to both projects.

AAK
75/25 with local owner, PMA company ownership structure - 5k ha with 5 outcrops (1-2m in thickness) with bright coal and possible anthracite
•Drilling to commence 1H 2012

AAM
75/25 with local owner, PMA company ownership structure 10k ha – 11 outcrops have bright coal
•Drilling to commence 1H 2012







West Kalimantan
•Cokal 75.2% interest in PT Silangkop Nusa Raya (SNR)
•Three IUPs in Singtang Regency, West Kalimantan covers an area of 13,000 hectares
•Out crop samples show high volatile, low ash, moderate sulphur and low phosphorus coking coal
•Commencing drilling before end of 2012

TANZANIA
•Two companies formed
•JV1 - 50:50; JV2 - 60:40
•JV1 has tenement
•JV2 vehicle for further prospects
•Part of Karoo Basin (per Mozambique)

EMEM CO-OPERATION AGREEMENT
•Mozambique Government owned EMEM and Cokal will jointly develop coal projects that EMEM gain title to in the emerging, vast Mozambique metallurgical coal basin
•EMEM will have 20% ownership and Cokal 80% of the JV company
•Cokal will provide funding for exploration over 3 years
•EMEM provide exploration licences
•The Agreement between EMEM & Cokal provides for post exploration development through to mining and sale of coal
•Awaiting leases to be provided by EMEM subject to government review process




BalckRock Group have also recently increased their stake in CKA from 31.6m shares to 41.4m
 

Attachments

  • cka_ax23mar12_to_01jul12.png
    cka_ax23mar12_to_01jul12.png
    12.2 KB · Views: 6

springhill

Make the drill work for YOU
Joined
20 June 2007
Posts
2,555
Reactions
6
Company presentation
http://www.asx.com.au/asxpdf/20120806/pdf/427vtmgknptxhc.pdf

COKAL ANNOUNCES ADDITIONAL JORC INFERRED AND INDICATED RESOURCES FOR BBM PREMIUM COKING COAL PROJECT
• Increases to 7Mt Indicated and 70Mt Inferred Resource estimate, Total Resources of
77 Mt at BBM, a 28% increase
• Resource increase totally attributed to the ‘J’ Seam which is 100% Premium Coking
Coal
• Product split of total BBM Resource is now 70% Coking Coal and 30% PCI
• ‘J’ Seam has direct ship potential
• Exploration continuing to define further Coal Resources
 

greggles

I'll be back!
Joined
28 July 2004
Posts
3,866
Reactions
3,315
Cokal's negotiations with Renjian International Trading (Shanghai) Co Ltd regarding a coal off-take agreement for 2.5 million tonnes of premium PCI coal from the BBM PCI Project have broken down and CKA will not be proceeding with the proposed deal.

The company believed that it may be exposed to losses over the fifty month period of the contract and decided to walk away.

The bad news has taken the wind out of CKA's sails and it is currently down 1.2c to 5.8c today.
 

Stockybailz

"Profit Compoundd" Rules
Joined
10 May 2021
Posts
630
Reactions
491
CKA must be making good with the cash. Solid gains on Friday, Hurdling gains today up 14.29%.. 5B Cash flow Report on of there Quarterly Report. Sky's the limit...

1627264487836.png

1627264539707.png
 

Stockybailz

"Profit Compoundd" Rules
Joined
10 May 2021
Posts
630
Reactions
491
Excellent Venture with Cokal Limited. Would of liked to have got on board back in the day at 6c now trading 0.135c Sore it drop in value the past weeks but has regained nicely today. Still looks bullish...In the watch-list, just watching the credits grow...

1629861389866.png
 

Stockybailz

"Profit Compoundd" Rules
Joined
10 May 2021
Posts
630
Reactions
491
Reading an article on Stock head and there sumed up Cokal dong well as it goes gang busters;

1631054419896.png

1631054482368.png
 

TLS

Joined
27 February 2017
Posts
52
Reactions
30
I have picked CKA in the competition as it is getting VERY close to production now ...

My latest tracking has the following looming timelines:

- On 02 May22 a Notice of Mobilisation was issued to the Coal Mining Contractor HPU with coal mining scheduled to commence on 28 Jul 22

- First coal sales are forecast to occur in Sep 22
 
Last edited:

TLS

Joined
27 February 2017
Posts
52
Reactions
30
CKA released their Quarterly Report today and it still looks to be on track ...

BBM PROJECT ACTIVITIES

- Cokal is pleased to report that full-scale development of the Bumi Barito Mineral Coking Coal Mine (BBM) (Cokal
60%) commenced during the quarter.

- Development has advanced rapidly, with multiple milestones being achieved. Initial production is imminent,
with first saleable coal scheduled for September 2022.

- BBM’s successful development progress demonstrates the continued execution of Cokal’s strategy of achieving
low-cost, high-margin coking coal production.
 

Stockybailz

"Profit Compoundd" Rules
Joined
10 May 2021
Posts
630
Reactions
491
I consider CKA a real player in the coal game. I remember the day when they were on the bones of there arse and dug deep to produce some remarkable spare price results. But now due to regulations there restricted to burn high (Well may we say god save the queen). You would think they have run out of curry to make results on the corrupt market in Australia today. i speak for all Australian stock in general...
 

TLS

Joined
27 February 2017
Posts
52
Reactions
30
Good announcement today ...
- things are starting to align / come to fruition and beginning to accelerate ...

Cokal appoints additional mining contractor for the BBM mine
- Mining equipment is arriving at the BBM mine site for first coal production in September 2022

Key Highlights
▪ Cokal has appointed CBQ, as an additional mining contractor, to provide mining services at the BBM Mine

▪ Reduced costs, increased annual production potential, and Cokal undertaking its own coal mining operations, are all facilitated by the
appointment of CBQ

▪ Mining equipment, mobilised by CBQ, is already arriving at the BBM Mine Site

▪ The existing mining services contract with HPU remains in-place
 

TLS

Joined
27 February 2017
Posts
52
Reactions
30
Another good update released today ...

Significant Development Progress Achieved. First Coal Production from the BBM Coking Coal Mine on-track for September 2022

Key
Highlights
▪ Krajan Jetty Infrastructure is at final stage of completion
▪ Construction of the bridge at Haul Road KM 7 is complete
▪ Land Clearance at the Pit 3 mining area is ongoing as per schedule
▪ Mining Contractor, CBQ, mobilises 1st fleet of mining equipment

Development Milestones

Krajan Jetty
& Haul Road to Pit 3
- Krajan Jetty Infrastructure works have progressed as per schedule and is currently geared up to receive the 1st fleet of equipment from the mining contractor which is expected to start arriving this week
- Support infrastructure including administration office, on-site clinic, equipment commissioning pad, coal stockpile, fuel tank farm, and loading ramp fabrication is complete
- Dewatering Pipeleline works are ongoing
- Bridge construction works on the Krajan Jetty to Pit 3 Haul Road at KM 7 is complete.
- Haul Road maintenance works are ongoing

Mining Area Development

- Pit 3 land clearance has progressed on schedule aided by additional equipment arriving at the site
- The mining contractor, CBQ, will start the overburden removal by late August
- Further equipment has arrived at site to ramp-up land clearance activities
- Health & Safety Workshops being conducted at the site
- Additional Senior Manpower appointed including Pit Geologist, Mining Engineer, and Medical Officer
- Telkomsel Telecommunication Tower civil works have commenced by an external contractor

Mining Contractor
- The mining contractor, CBQ, has commenced mobilisation of the 1st fleet of mining equipment
- Equipment has already started to arrive at Puruk Cahu Jetty
- Senior manpower from CBQ’s team has started to arrive at the Krajan mining camp
 

TLS

Joined
27 February 2017
Posts
52
Reactions
30
Another announcement today ...

Development of the BBM Coking Coal Mine Continues Rapidly. First Coal Production Scheduled for September 2022

Key
Highlights
▪ Mining contractor’s equipment continues to arrive at the BBM mine site
▪ Key personnel and first batch operations team from contractor already at the site
▪ Land clearance works at Pit 3 area progressing swiftly and on schedule
▪ Mining contractor scheduled to commence operations in late August, with the start of overburden removal
▪ First coal production on-schedule for September 2022
 

TLS

Joined
27 February 2017
Posts
52
Reactions
30
Another good update released today ...

Additional Coal Seam Discovered at Cokal’s BBM Coking Coal Mine. The Additional Coal Seam has not yet been
Included in BBM’s Coal Resources
or Production Schedule

Key
Highlights
▪ Cokal BBM has conducted a test pit at BBM Pit 3 as part of the mine development and pre-mining process
▪ An additional coal seam has been discovered (“Seam I”). Further investigation is ongoing, with additional trenching works, to obtain detailed
information regarding the quality and quantity of coal available
▪ Coal samples from Seam J, the major coal occurrence at BBM, have been obtained and will be subject to confirmatory testing

Key Highlights

Test Pit

- Cokal BBM has conducted a test pit at BBM Pit 3 as part of the mine development and pre-mining process
- Coal samples from Seam J, the major coal occurrence at BBM, have been obtained and will be subject to confirmatory testing
- Initial observations of Seam J from the test pit, including the seam sub-crop area, appear to be consistent with the mine’s existing geological model

Coal Seam I
- The test pit activities have resulted in an additional coal seam being discovered (“Seam I”)
- Seam I has been exposed at 160mtrs north of Seam J in pit 3
- The coal seam appears to have no interburden or coal partings, and it can therefore be inferred that the coal product will be low ash
- Further investigation is ongoing, with additional trenching works, to obtain detailed information regarding the quality and quantity of coal available
- Samples have been collected and sent to the laboratory
- This additional coal seam has not yet been Included in BBM’s coal resources or production schedule
 

TLS

Joined
27 February 2017
Posts
52
Reactions
30
Another good update released today ...

Annual Mineral Resource & Ore Reserve Statement as at 30 June 2022

Key Highlights

- 0.7Mt growth in reported Ore Reserves for the BBM Project to 23.8Mt,representing an increase of 3% year-on-year

- No change to BBM’s large 260Mt metallurgical coal Mineral Resource estimate from 2021

- Highly attractive financial metrics with a Net Present Value (NPV) for the BBM Project estimated at US$529.7m (A$770.0m)a and average annual EBITDA of US$94.1m (A$136.8m)

- Lucrative opportunity to continue converting BBM’s large 260Mt coking coal Mineral Resource to Ore Reserves, translating to anticipated future increases in forecast annual production and/or mine-life extensions

- The upcoming drilling programme at the TBAR Project, contiguous to BBM and prospective for large-scale coking coal deposits, is anticipated to result in a maiden JORC Resource in 2023

A lot more info in the actual release for those interested ...
 

TLS

Joined
27 February 2017
Posts
52
Reactions
30
Another good update released today ...

Cokal Achieves Important Milestone, Breaking Ground at the BBM Coking Coal Mine. Overburden Removal in the Mining Area has Commenced and First Saleable Coal Production Remains Scheduled for September 2022


Key
Highlights
▪ An important milestone has been achieved at the BBM Coking Coal Mine, with overburden removal in the Pit 3 Mining Area having commenced by BBM’s Mining Contractor
▪ Haul Road continues to be upgraded
▪ Krajan Jetty preparation nearing completion

Photos are include in the release for those interested ...
 
Top