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Cokal ( (AU:CKA) ) has issued an announcement.
Cokal reported ongoing coal mining and hauling at its Indonesian metallurgical coal operations, but said equipment availability issues in February will leave first-quarter production below plan, with corrective measures underway and a ramp-up targeted in the second quarter. The company is also close to securing a blasting permit, which is expected to boost productivity and stripping efficiency once blasting begins in mid-April.
Hauling continues at a moderate pace due to road conditions, with maintenance works in progress to improve access and efficiency. Cokal completed a coal shipment to a domestic smelter on 16 March and is negotiating another for late March, but warned that sector-wide delays in RKAB approvals may affect near-term sales volumes and timing, even as it remains confident in strong domestic demand and supportive regulation over the longer term.
The most recent analyst rating on (AU:CKA) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Cokal stock, see the AU:CKA Stock Forecast page.
More about Cokal
Cokal Limited is an ASX-listed miner focused on Indonesian metallurgical coal operations. The company supplies domestic smelters and industrial end users in Indonesia and aims to strengthen its position as a locally operated producer within the country’s coal value chain.
YTD Price Performance: 14.29%
Average Trading Volume: 524,435
Technical Sentiment Signal: Hold
Current Market Cap: A$69.05M
For an in-depth examination of CKA stock, go to TipRanks’ Overview page.