Cokal (ASX: $CKA) Product Coal Shipment Update

Cokal Limited (ASX: $CKA) has announced that 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, sold to Sumbar Global (SGE) under an existing offtake contract, is destined for the global seaborne export market. BBM has already received 50% of the coal's value from SGE, with the balance to be received as per the agreed terms and conditions under the offtake contract, subject to documentation and adjustments for coal quality and tonnages. Additional sales of BBM coking coal have also been contracted.

Cokal (ASX: $CKA) Executive Commentary

Cokal Limited (ASX: $CKA) is pleased to provide the above updates on the Bumi Barito Mineral (BBM) metallurgical coal mine and related infrastructure. The company is committed to its objective of becoming a metallurgical coal producer with a global presence, and these recent developments mark significant progress towards that goal.

Cokal (ASX: $CKA) Product Coal Shipment Summary

Cokal Limited (ASX: $CKA) has successfully arranged the shipment of 7,600 tonnes of product coal from the BBM Mine to the Taboneo Anchorage, with further sales already contracted. The company's focus on becoming a global metallurgical coal producer is evident in these strategic moves, as it continues to strengthen its presence in the global seaborne export market. The successful completion of this shipment and the ongoing sales contracts reflect Cokal's commitment to its corporate strategy and its ambitions to establish a strong foothold in the global metallurgical coal industry.