Australia's Cokal rises on first production of metallurgical coal at Indonesian mine

Cokal

18/10/2022 02:34

** Shares of Cokal Ltd  CKA.AX  rise as much as 4.4% to
A$0.235, their highest since Oct. 14
    ** Coal miner says first production of metallurgical coal
has been achieved at Bumi Barito Mineral coking coal mine in
Indonesia  urn:newsml:reuters.com:*:nASX17J84T
    ** Sees 150-200 kilo tonnes of saleable coal by calendar
year end 
    ** Says first revenue from coal sales is anticipated by
mid-November
    ** Says production will increase to 1.6 mln tonnes of
saleable coal in 2023
    ** Stock on track to post its biggest intraday pct gain
since Oct 17, if gains hold
    ** Stock has risen 55.2% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))