Australia's Cokal rises after joint development deal of coal infrastructure assets

Cokal

12/06/2024 05:05

** Shares of Cokal  CKA.AX  rise as much as 8.3% to A$0.105,
set to gain most since May 3, if current trend holds
    ** The coal co completes due diligence & progresses talks
for formal binding agreements with Indonesia's PT Petrindo Jaya
Kreasi  CUAN.JK  for joint development of coal transport
infrastructure assets
    ** Co says it has been granted access to PT Petrindo's coal
stockpile for storing its coal product
    ** Stock hits its highest level since May 16
    ** Cokal stock down over 19% this year, as of last close

    

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))