Australia's Cokal soars on partnership with Cratus Group

Cokal

18/11/2024 23:39

** Shares of Cokal  CKA.AX  soar much as 12.9% to A$0.079,
set for their best day since late October - if current gains
hold 
    ** Iron and steel producer says it has signed a partnership
agreement with commodities and investments house Cratus Group 
    ** Says partnership to maximise the value of its Indonesian
coal assets
    ** Says it will establish a 50-50 joint venture to increase
capacity and efficiency of coal transport infrastructure; Cratus
to inject $20 mln into JV 
    ** Shares hit highest level since Nov 11 
    ** Stock had fallen ~34.2% this year, as of 2333 GMT 

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))