Australia's Cokal jumps most in a week on barge acquisition

Cokal

02/11/2022 02:32

** Shares of Cokal Ltd  CKA.AX  rise as much as 2.5% to A$0.205,
on track to see their best day since Oct 26, if gains hold 
    ** Coal company says that co has acquired fleet of barges
and tugboats for transportation of coal  urn:newsml:reuters.com:*:nASX1fvWWP
    ** Says barges will be used for transportation of coal from 
Krajan Jetty to Batu Tuhup Jetty in Indonesia
    ** Says total cost of first-stage of barge acquisitions is
estimated at up to $1.5 mln
    ** Says barging infrastructure represents a new independent
profit centre for co 
    ** Shares of co are up 37.9% YTD as of last close 
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))