ASX ANNO OUNCEME ENT

T +6
61 7 3001 4100
0
E [email protected]
@cokal.com.au
u
Leve
el 34, Riverside Centre, 123 Eaggle Street, Brisb
bane QLD 4000
0
PO Box 7122, Brisb
bane QLD 4001
1
N 55 082 541 43
37 (ASX: CKA))
ABN
www.co
okal.com.au
u
ASX ANNO
OUNCEME
ENT
October 8
8, 2014
CO
OKAL UPD
DATE ON BB
BM PROJEC
CT
Cokal Limited (ASX:C
CKA) is plea
ased to anno
ounce that it continues
s to make ggood progre
ess with the
e
orks ahead of
o the granti ng of the fin
nal Borrow and
a Use of F
Forest Area
a Permit. On
n
finalization of early wo
ced that Plattinum Partn
ners had exttended furthher funding via
v a bridge
e
the 11th of August Cokkal announc
w early workk to be unde
ertaken and thereby ma
aintain the prroject scheddule.
loan to allow
The early w
works includ
ded the final detailed en
ngineering design
d
and contract
c
doccumentation to facilitate
e
the immediate comme
encement off site based
d constructio
on once pro
oject financiing docume
entation hass
pleted.
been comp
Final Borro
ow and Use
e of Forest Area Permiit
A significan
nt amount of the funds advanced b
by Platinum Partners via
a the extendded bridge lo
oan were to
o
complete th
he procedurral matters associated
a
w
with processing of the final borrow
w and use fo
orestry area
a
permit. The
e obtaining of
o this permit is a condittion precede
ent for the prrovision of thhe full fundin
ng package..
The key acctivities which have been
n occurring a
are:
•
•
•
Surrvey and pe
egging the approved bo undary and operationall area, the m
majority of the concrete
e
bou
undary pegss have been installed
Pro
ovision of va
arious undertakings reg
garding reha
abilitation, a restorationn area (DAS
S) has been
n
esta
ablished nea
ar the projec
ct and inspe
ections of the
e progress have
h
occurreed.
Payyment of Ap
pplicable tax
xes, this ha s involved the
t
detailed survey of aall trees of commerciall
qua
ality in the Forestry
F
area
a, the compe
ensation pa
ayable to the
e Forestry m
ministry is de
ependent on
n
the actual number of these
e trees utilize
ed in the are
ea.
A report prrepared by Cokal
C
in conjunction wiith the inspe
ections undertaken by fforestry officials will be
e
submitted sshortly. Based on this report
r
the Fo
orestry Dep
partment willl issue the ffinal Borrow
w and use off
Forest Area
a Permit.
The majoritty of the bou
undary pegs
s have been installed an
nd inspected
d by forestry officers
Early Work
ks detailed engineerin
ng and conttractual doc
cumentation
n
To maintaiin the proje
ect schedule
e timeline a number of
o critical pa
ath construcction items have been
n
aking these items “shoovel ready” the projectt
advanced through dettail design and quotattion. By ma
mence as soon as the fu
ull funding pa
ackage is av
vailable.
construction can comm
•
•
•
•
•
Plottting / survey of road co
orridor from Barito river to BBM bein
ng carried ouut, 100% co
omplete. The
e
cen
nterline of the
e road corrid
dor has been
n gradually cleared
c
and control
c
surveey marks established forr
eartthworks cut and
a fill contro
ol.
Purrnama Port la
and mapping
g complete a nd documen
nts prepared for compenssation payme
ents
Som
me minor eng
gineering design optimize
ed and finalized ready fo
or re-pricing
Dettailed Geological mappin
ng and sam
mpling has been underta
aken with thee aim of inc
creasing the
e
porttion of Meassured and Ind
dicated Reso
ources
Dettailed river so
ounding carried out :
9 Dredgin
ng areas
9 Purnam
ma Port
9 Puruk Cahu
C
to Kraja
an
9 In excess of 30Gb of
o data obtain
ned and currrently being processed
p
Project Fin
nancing
Cokal and Platinum arre still finaliz
zing the full funding pa
ackage details, even thoough Platinu
um partnerss
er the two pa
arties are co
ontinuing to work in goo
od faith. The
e
exclusivity period expirred on the 6th of Octobe
he financing are in line with details aIready released to the market. C
Cokal aim to
o have mostt
terms of th
mpleted in the next four weeks
w
coincciding with the expected
d timing of thhe removal of
o the majorr
details com
condition precedent, th
he issuance of the Borro
ow and Use of Forestry Area Permitt.
PROJECT OVERVIEW
W
duction IUP
P covers an area of 14,9
es (ha), imm
mediately adjjacent to BH
HP Billiton’ss
BBM’s Prod
980 hectare
Juloi tenem
ment. The te
enement cov
vers ground which has been zoned
d as Producction Forest.. Production
n
Forest zone
es are areass that have been design
nated by the
e Central Go
overnment oof Indonesia to allow forr
forestry and
d mining acttivities by loc
cal and interrnational companies.
e Barito Riv
ver and hass numerous outcrops of bright coaal. Coal co
ore sampless
The IUP sttraddles the
analysis co
onfirmed BB
BM’s coal to
o be a prem
mium coking coal with Crucible S
Swell Numbe
ers (“CSN”))
values generally 9 or more.
m
•
Coal Resourcce estimate of 261Mt at BBM, comp
prised of 10.5Mt Measurred, 13.5Mt Indicated
Total C
and 237
7Mt Inferred
d Resources
s reported in
n accordance
e with the 20
012 JORC C
Code*
08/10/14
Page 2 of 4
•
Resourrce increase
e attributed to
o the additio
onal ‘J’ Seam
m in the KLM
M area whicch is 100% Premium
P
Coking Coal
•
e total BBM Coal Resou
urce is estim
mated to be 90%
9
Cokingg Coal and 10% PCI
Producct split for the
•
Producct split used in the Study
y (approx. 20
0Mt) was ap
pproximately
y: 82% Cokinng Coal and
d 18% PCI
*The Total C
Coal Resource
e estimate wa
as announced
d on 11 Febru
uary 2014, titlled “Cokal annnounces rele
ease of JORC
C
Resource Sta
tatement comp
pliant with the
e 2012 JORC
C Code for Bumi Barito Mineral (BBM) M
Metallurgical Coal
C
Project in
n
Central Kalim
mantan, Indone
esia”. The Co
ompany confirrms that it is no
ot aware of an
ny new informaation or data that
t
materiallyy
affects the in
nformation included in the announcement
a
t made on 11 February 201
14 and that al l material ass
sumptions and
d
technical parrameters unde
erpinning the estimates
e
in th
he announcem
ment made on 11 February 22014 continue
e to apply and
d
have not matterially change
ed.
ENDS
Further enq
quiries:
Peter Lynch
h
Chairman
Mobile: +61 419 764 747
Andrew Cro
ook
Media Enqu
uiries
Mobile: +61 419 788 43
31
About Cokal Limited
Cokal Limited
d (ASX:CKA) is an Australian listed com
mpany with the
e objective of becoming a m
metallurgical coal producerr
with a global presence. Cokal
C
has inte
erests in five p
projects in Ce
entral Kaliman
ntan and one project (whic
ch holds three
e
est Kalimantan, Indonesia cconsidered pro
ospective for metallurgical
m
ccoal. Cokal ha
as also signed
d
exploration licences) in We
a joint venturre with Tanzo
oz Resource Company
C
Lim ited to explore for coal in Tanzania
T
and a co-operatio
on agreementt
with Mozamb
bique Governm
ment Mining Corporation,
C
E
EMEM, to exp
plore for cokin
ng coal in the emerging coal province off
Mozambique
e.
Forward Loo
oking Statem
ments
This release includes forw
ward looking statements.
s
O
Often, but not always, forwa
ard looking staatements can
n generally be
e
orward looking
g words such as “may”, “w
will”, “expect”, “intend”, “plaan”, “estimate””, “anticipate”,,
identified by the use of fo
“continue”, a
and “guidance
e”, or other similar
s
words and may inc
clude, withoutt limitation sta
tatements reg
garding plans,,
strategies an
nd objectives of manageme
ent, anticipate
ed production or constructio
on commenceement dates and expected
d
costs or prod
duction outputts. Forward lo
ooking statem
ments in this re
elease include
e, but are nott limited to, th
he capital and
d
operating cosst estimates and
a economic analyses from
m the Study.
Forward lookking statementts inherently in
nvolve known and unknown
n risks, uncerttainties and otther factors th
hat may cause
e
the companyy’s actual resu
ults, performan
nce and achie
evements to differ materially
y from any futuure results, pe
erformance orr
achievementts. Relevant factors
f
may in
nclude, but arre not limited to, changes in commodityy prices, foreign exchange
e
fluctuations a
and general ecconomic cond
ditions, increassed costs and
d demand for production
p
inpputs, the spec
culative nature
e
of exploration
n and project development,, including the
e risks of obta
aining necessa
ary licences a nd permits an
nd diminishing
g
quantities or grades of resources or rese
erves, politica
al and social risks, changes to the regulattory framework
k within which
h
the companyy operates or may in the future
f
operate
e, environmen
ntal conditions
s including exxtreme weather conditions,,
recruitment a
and retention of
o personnel, industrial relattions issues and litigation.
Forward lookking statemen
nts are based on the comp
pany and its management’s
m
s good faith aassumptions relating
r
to the
e
financial, ma
arket, regulato
ory and otherr relevant envvironments tha
at will exist and
a
affect thee company’s business and
d
operations in
n the future. The
T
company
y does not givve any assura
ance that the assumptionss on which forward looking
g
statements a
are based will prove to be correct,
c
or tha
at the compan
ny’s business or operationss will not be affected in anyy
material man
nner by these or other facto
ors not forese
een or foresee
eable by the company
c
or m
management or
o beyond the
e
company’s co
ontrol.
Although the
e company attempts to iden
ntify factors th at would caus
se actual actio
ons, events oor results to differ materiallyy
from those d
y be other fa
actors that coould cause actual
a
results,,
disclosed in forward lookiing statementts, there may
performance, achievemen
nts or events not to be ant icipated, estim
mated or inten
nded, and maany events arre beyond the
e
cordingly, rea
aders are cauttioned not to place
p
undue rreliance on fo
orward looking
g
reasonable ccontrol of the company. Acc
statements.
Forward lookking statements in this relea
ase are given
n as at the datte of issue on
nly. Subject too any continuin
ng obligationss
under applica
able law or any relevant sttock exchang e listing rules
s, in providing this informattion the comp
pany does nott
undertake an
ny obligation to
o publicly upd
date or revise any of the forw
ward looking statements
s
orr to advise of any
a change in
n
events, conditions or circumstances on which
w
any succh statement is based.
08/10/14
Page 3 of 4
Competent P
Person Statement
The information in this rep
port relating to Exploration R
Results is base
ed on informa
ation compiledd by Patrick Ha
anna who is a
fellow of the Australasian Institute of Miining and Mettallurgy and is
s a consultant (through Hannna Consulting
g Services) to
o
Cokal Limited
d.
Mr Hanna is a qualified ge
eologist and ha
as sufficient exxperience whiich is relevant to the style oof mineralisatio
on and type off
er consideratio
on and to the activity
a
which tthey are unde
ertaking, to qua
alify as Compeetent Persons
s as defined in
n
deposit unde
the 2012 Ediition of the “Au
ustralasian Co
ode for Reporrting of Explorration Results,, Mineral Resoources and Ore Reserves”..
onsents to the inclusion in th
he report of the
e matters based on the information, in thee form and context in which
h
Mr Hanna co
it appears.
The informattion in this re
eport relating to Mineral Re
esources is based
b
on inforrmation comppiled by Tri Yoso who is a
Member of th
he Australasia
an Institute of Mining
M
and Me
etallurgy and a full time emp
ployee of Coka
kal Limited.
Mr Yoso is a qualified geo
ologist and has
s sufficient exxperience whic
ch is relevant to the style off mineralisatio
on and type off
deposit unde
er consideratio
on and to the activity which he is underta
aking, to qualify as a Comppetent Person as defined in
n
the 2012 Edittion of the “Au
ustralasian Co
ode for Reportiing of Explora
ation Results, Mineral
M
Resouurces and Ore
e Reserves”.
Mr Yoso consents to the in
nclusion in the
e report of the
e matters base
ed on the inforrmation, in thee form and context in which
h
it appears.
Note 1: Exp
ploration Targ
get
All statementts as to Explorration Targets
s of Cokal Limiited and statements as to potential qualityy and grade are
a conceptuall
in nature. Th
here has been insufficient exploration
e
un
ndertaken to date
d
to define a Coal Resoource and iden
ntification of a
Resource willl be totally de
ependent on th
he outcome o
of further explo
oration. Any statement
s
conntained in this document ass
to exploration
n results or Exploration Tarrgets has bee
en made consistent with the
e requirementts of the Austrralasian Code
e
for Reporting
g of Exploration Results, Resources and O
Ore Reserves (JORC Code).
08/10/14
Page 4 of 4