Australia's Cokal hits over 2-mnth high on first revenue from coal sales

Cokal

13/12/2023 24:40

** ** Shares of Australian coal miner Cokal Ltd  CKA.AX 
rise as much as 8.3% to A$0.130, their highest since Oct. 3 
    ** CKA says achieved first revenue from sale of 23,000
tonnes of metallurgical coal from Bumi Barito Mineral (BBM) mine
in Indonesia 
    ** Sale of metallurgical coal to trading services provider
International Commodity Trade (ICT)
    ** Adds sale will generate immediate revenue for BBM and
CKA; 80% of anticipated revenue from sale has been paid by ICT
    ** Stock third-biggest gainer in the ASX All Ordinaries
 .AORD  index
    ** Stock has fallen 44.2% this year as of last close

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))