Australia's Cokal jumps on production ramp-up deal with Petrosea

Cokal

01/08/2024 03:43

** Shares of Cokal  CKA.AX  rise as much as 15.3% to
A$0.098, their biggest intraday percentage gain since April 10
    ** Stock hits its highest level since June 21
    ** The coal miner signs a deal with Indonesia's Petrosea
 PTRO.JK  to ramp up production at co's Bumi Barito Mineral
metallurgical coal mine
    ** Sees lower production costs per ton at the mine from deal
    ** Avout 925,000 shares change hands, compared with the
30-day average volume of around 535,000
    ** Stock trims YTD losses to 20%, including session's moves



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))