Reported Earnings • Mar 20
First half 2026 earnings released: US$0.003 loss per share (vs US$0.006 loss in 1H 2025) First half 2026 results: US$0.003 loss per share (improved from US$0.006 loss in 1H 2025). Net loss: US$2.97m (loss narrowed 52% from 1H 2025). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. New Risk • Dec 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.5m free cash flow). Negative equity (-US$16m). Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Revenue is less than US$5m (US$3.4m revenue). Market cap is less than US$100m (AU$61.5m market cap, or US$40.7m). Annuncio • Oct 16
Cokal Limited, Annual General Meeting, Nov 21, 2025 Cokal Limited, Annual General Meeting, Nov 21, 2025. Reported Earnings • Oct 01
Full year 2025 earnings released: US$0.007 loss per share (vs US$0.009 loss in FY 2024) Full year 2025 results: US$0.007 loss per share (improved from US$0.009 loss in FY 2024). Net loss: US$7.28m (loss narrowed 26% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 41% per year, which means it is performing significantly worse than earnings. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.9m free cash flow). Negative equity (-US$15m). Earnings have declined by 35% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (US$3.3m revenue). Market cap is less than US$100m (AU$43.2m market cap, or US$28.5m). Reported Earnings • Mar 19
First half 2025 earnings released: US$0.006 loss per share (vs US$0.005 loss in 1H 2024) First half 2025 results: US$0.006 loss per share (further deteriorated from US$0.005 loss in 1H 2024). Net loss: US$6.15m (loss widened 15% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings. New Risk • Mar 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.0m free cash flow). Negative equity (-US$8.5m). Earnings have declined by 40% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (US$3.7m revenue). Market cap is less than US$100m (AU$38.8m market cap, or US$24.5m). Annuncio • Oct 22
Cokal Limited, Annual General Meeting, Nov 29, 2024 Cokal Limited, Annual General Meeting, Nov 29, 2024. Reported Earnings • Oct 01
Full year 2024 earnings released: US$0.009 loss per share (vs US$0.009 loss in FY 2023) Full year 2024 results: US$0.009 loss per share (in line with FY 2023). Revenue: US$3.70m (up US$3.68m from FY 2023). Net loss: US$9.83m (loss widened 6.0% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. New Risk • May 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$11m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-US$4.0m). Earnings have declined by 33% per year over the past 5 years. Minor Risks Revenue is less than US$5m (US$2.5m revenue). Market cap is less than US$100m (AU$113.3m market cap, or US$74.7m). New Risk • Mar 16
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$4.0m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$11m free cash flow). Negative equity (-US$4.0m). Earnings have declined by 33% per year over the past 5 years. Minor Risks Revenue is less than US$5m (US$2.5m revenue). Market cap is less than US$100m (AU$80.9m market cap, or US$53.1m). Annuncio • Oct 05
Cokal Limited, Annual General Meeting, Nov 08, 2023 Cokal Limited, Annual General Meeting, Nov 08, 2023, at 14:00 AUS Eastern Standard Time. Location: Level 5, 56 Pitt Street, Sydney New South Wales Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Directors' report, the Remuneration Report and the auditor's report; to consider adoption of remuneration report; to consider re-election of Director - Mr. Domenic Martino; to consider approval of 7.1A Mandate; to consider ratification of prior issue of Placement Shares; to consider proportional takeover provisions; and to consider other matters. Annuncio • Jan 31
Cokal Limited Provides Updates on the Bumi Barito Mineral Cokal Limited provided updates on the Bumi Barito Mineral (BBM) coking coal mine (Cokal 60%). Following are the key highlights: Water levels at Krajan jetty have improved and deemed safe to commence coal loading. First coal from BBM Mine is loaded from Krajan Jetty into Cokal's barges and being transported to Batu Tuhup Jetty. Annuncio • Nov 24
Cokal Limited Provides Update on the Bumi Barito Mineral (Bbm) Coking Coal Mine Cokal Limited (Cokal) provides update on the Bumi Barito Mineral (BBM) coking coal mine (Cokal 60%). Mined coal currently stockpiled at Krajan jetty and transportation to Batu Tuhup jetty to commence once the floating crane and storage barge is set up. In meantime Cokal's (BSN) 3 units of barges have arrived at the Krajan Jetty, ready to transport coal. Attractive mining performance continues to be achieved at the BBM Coking Coal mine, with metallurgical coal production ramping-up from Seams J & I in Pit 3 Transport of product coal to Krajan Jetty has been slowed due to heavy rains impacting the haulage road, which continues to be upgraded . Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Allen Delbridge was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Oct 25
Cokal Limited, Annual General Meeting, Nov 30, 2022 Cokal Limited, Annual General Meeting, Nov 30, 2022. Annuncio • Oct 19
Cokal Limited Commences Production of Metallurgical Coal at Bumi Barito Mineral Cokal Limited provided the following updates on the Bumi Barito Mineral (BBM) coking coal mine. Cokal is delighted to announce that first saleable production of metallurgical coal has been achieved at BBM. Metallurgical coal production is ramping-up, with 150Kt to 200Kt of saleable coal forecast by this calendar year end, 31 December 2022. Production will increase to 1.6Mt of saleable coal in 2023, before reaching nameplate capacity of 2.0Mt saleable coal in 2024. First revenue from coal sales is anticipated by mid-November 2022. Product coal is currently being stockpiled at the BBM mine site, with hauling to Krajan Jetty set to commence by 24 October 2022. BBM's mining contractor will commence an additional shift by 31 October 2022, facilitating ramp-up of saleable coal production. Annuncio • Oct 02
Cokal Limited Auditor Raises 'Going Concern' Doubt Cokal Limited filed its Annual on Sep 30, 2022 for the period ending Jun 30, 2022. In this report its auditor, Hall Chadwick, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Annuncio • Sep 28
Cokal Limited Provides Update, on the Bumi Barito Mineral Coking Coal Mine Cokal Limited provided the following updates, on the Bumi Barito Mineral (BBM) coking coal mine (Cokal 60%): Overburden removal (pre-coal mining) at BBM continues at a steady pace in Pit 3. Mining Contractor has deployed two fleets of equipment to achieve production targets and is scheduled to start operating 2 shifts beginning first week of October. Development continues to advance rapidly, with first saleable coking coal production to commence this 30 September 2022. Annuncio • Sep 02
Cokal Limited Announces Annual Mineral Resource Cokal Limited released its annual statement of Mineral Resources and Ore Reserves as at 30 June 2022. This statement demonstrates the continued execution of Cokal's strategy of achieving low-cost, high- margin metallurgical coal production, with saleable production from Bumi Barito Mineral (BBM) (Cokal 60%) commencing Third Quarter 2022. Changes in Mineral Resources & Ore Reserves are driven by the continuing technical work undertaken at BBM, updated long-term coal price assumptions, and refinement of life-of-mine operating assumptions, including operating costs and development capital expenditure. Cokal notes the significant and comprehensive technical work previously completed at BBM, including the A Feasibility Study undertaken by Resindo Resources & Energy Indonesia (Resindo), announced on 13 February 2014; and an Updated Feasibility Study, indicating significant reductions in BBM operating costs and capital costs, undertaken by Resindo, and announced 2 November 2016. BBM is a high-quality metallurgical coal project located in the Central Province, Kalimantan, Indonesia with an area of approximately 14,980ha. BBM is currently under development with first production scheduled for Third Quarter 2022. The reported Mineral Resources and Ore Reserves in this Announcement have been prepared in accordance with the 2012 Edition of the "Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code 2012) and the ASX Listing Rules. In accordance with the requirements for reporting an Ore Reserve under the JORC Code 2012, Cokal has determined a mine plan and production schedule that is technically achievable and economically viable. Proved and Probable Coal Reserves are derived from the respective Coal Resource classifications in accordance with the JORC Code 2012. Ore Reserves were estimated only on the Measured and Indicated portions of the Mineral Resource Estimate. The Ore Reserves are reported to a coal seam thickness cut-off of 0.3m in line with the reporting of the Resources. Based on guidelines specified in the JORC Code 2012 Measured Resources falling within the practical pit designs have been mostly classified as Proved Ore Reserves (depending on relevant modifying factors) and all Indicated Resources falling within the practical pit designs have been classified as Probable Ore Reserves. The Mineral Resources in the report are reported inclusive of Ore Reserves. Annuncio • Aug 23
Cokal Limited Provides Update on Bumi Barito Mineral (BBM) Coking Coal Mine Cokal Limited provided update on the Bumi Barito Mineral (BBM) coking coal mine (Cokal 60%). Development continues to advance rapidly, with first saleable coking coal production on-track for September 2022. Mining Contractor's Equipment continues to Arrive at the BBM Mine Site Key Personnel and first batch operations team from contractor already at the site Land Clearance Works at Pit 3 area Progressing Swiftly and on Schedule Mining Contractor Scheduled to Commence Operations in late August, with the Start of Overburden Removal. Annuncio • Aug 11
Cokal Limited Provides the Following Update on the Bumi Barito Mineral (Bbm) Coking Coal Mine Cokal Limited provided the following update on the Bumi Barito Mineral (BBM) coking coal mine. Development continues to advance rapidly, with the first saleable coking coal production on-track for September 2022. Krajan Jetty Infrastructure works have progressed as per schedule and is currently geared up to receive the 1st fleet of equipment from the mining contractor which is expected to start arriving this week. Support infrastructure including administration office, on-site clinic, equipment commissioning pad, coal stockpile, fuel tank farm, and loading ramp fabrication is complete. Dewatering Pipeleline works are ongoing. Bridge construction works on the Krajan Jetty to Pit 3 Haul Road at KM 7 is complete. Haul Road maintenance works are ongoing. Pit 3 land clearance has progressed on schedule aided by additional equipment arriving at the site. The mining contractor, CBQ, will start the overburden removal by late August. Further equipment has arrived at site to ramp-up land clearance activities. Health & Safety Workshops being conducted at the site. Additional Senior Manpower appointed including Pit Geologist, Mining Engineer, and Medical Officer. Telkomsel Telecommunication Tower civil works have commenced by an external contractor. The mining contractor, CBQ, has commenced mobilisation of the 1st fleet of mining equipment. Equipment has already started to arrive at Puruk Cahu Jetty. Senior manpower from CBQ's team has started to arrive at the Krajan mining camp. Annuncio • Jul 13
Cokal Limited Appoints Karan Bangur as New Chief Executive Officer Cokal Limited announced the appointment of Karan Bangur as Chief Executive Officer (CEO). Mr. Bangur was appointed a Director of the Cokal Ltd. on 10 April 2019 and retains this Directorship in addition to this new appointment as CEO. Mr. Bangur has over a decade of experience in operating mining and logistics projects in South East Asia. He is well experienced and familiar with Indonesian mining and general laws relating to on ground operations due to his experience in several projects in Indonesia. Projects include: Thermal coal mine operations in Tanah Grogot, East Kalimantan in the capacity of the financier. Operating fleet of HEMM (Heavy Earth Moving Equipment) in thermal coal mine project in Tarakan, North Kalimantan in the capacity of the owner. Evaluation and planning of Iron Ore, Bauxite Ore and Graphite concentrate recovery projects in Indonesia. Development and operating Iron Ore tenement in Malaysia including HEMM fleet management and rental services. Logistics and port development in Indonesia and other parts of SE Asia. Since his appointment at Cokal, Mr. Bangur has been instrumental in recruiting and developing the highly experienced team at Cokal and BBM. In addition, he has driven the development milestones for the BBM project including, contract awards, logistics chains and operating requirements and resources. At a corporate level he has worked closely with Cokal's chairman in raising equity from the capital markets and finalising the financing facilities necessary to bring BBM to production. Mr. Bangur has been a key player in the day to day operations of the mine site as well as direct involvement in the corporate requirements of the Company. He is well known to shareholders, investors and market participants as one of the key faces of the Company and has participated fully in the development and promotion of the Company. Annuncio • Jul 09
Cokal Limited Provides BBM Mine Development Advances Cokal Limited provide the following update on the Bumi Barito Mineral (BBM) coking coal mine (Cokal 60%). Development continues to advance rapidly, and first coal production remains on-track for September 2022. Krajan Jetty: Extra equipment has arrived at the Krajan Jetty site to facilitate the land clearance process. Additional fuel tanks have been installed to provide sufficient fuel storage capacity for land clearance and mining operations. Land Clearance at Pit 3: Preparation for pit access land clearance is ongoing with land clearance scheduled to commence on 7th July 2022 after the local religious ceremony, as per village customs (Acara Adat), Operations Peronnel: Additional manpower has been recruited including a senior mining supervisor and a loading master for jetty operations. Annuncio • Jun 30
Cokal Limited Announces Resignation of James Coleman as Chief Executive Officer Cokal Limited announced that Mr. James (Jim) Coleman has tendered his resignation as Chief Executive Officer. The Board has accepted his resignation. Annuncio • Jun 17
Cokal Limited Announces Additional Development Activities of BBM Mine Cokal Limited provide the following update on the Bumi Barito Mineral (BBM) coking coal mine (Cokal 60%). Development continues to advance rapidly, and first coal sales remain on-track for September 2022. The initial operations and movement of coal from Krajan will be transshipped into larger barges using a floating crane placed at the Batu Tuhup Jetty. This set-up will facilitate initial shipments of coal, whilst the permanent infrastructure at the Batu Tuhup Jetty is completed. Permanent facilities will allow for higher-capacity and will receive coal from Cokal's Mohing Haul Road. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Allen Delbridge was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Feb 26
Cokal Limited Announces BBM Progress at Batu Tuhup Jetty Cokal Limited already announced it has secured the site for its long term jetty at Batu Tuhup. The company has now started to develop the site. To this end, a fleet of equipment to undertake earthworks is due to arrive on site on 10 March. Cokal will issue Infrastructure development works tenders as soon as the final plans have been agreed by BBM. The following photographs depict the final site investigation drilling at Batu Tuhup. Annuncio • Feb 25
Cokal Limited Announces BBM Progress with Krajan Access Cokal Limited announced it is developing access to BBM Pit 3 via Krajan in parallel with building the road from Batu Tuhup. This concept has been further developed with the option to load coal from Pit 3 into barges at Krajan while the river water levels are high. A stockpile area has been prepared and a fuel facility is being used. The equipment landing pad is now able to take mining equipment. The Krajan camp has been upgraded with improved accommodation, mess and office following recent repair. Telecommunications have been reconnected. The road from Krajan to Pit 3 will be ready within March 2022. Annuncio • Jan 29
Cokal Limited Announces to Add Mobilisation Via Krajan for its BBM Project Cokal Limited announced that it was delayed in road and bridge construction by unseasonal heavy rain and a major andesite dike encountered after the Mohing bridge. The rain has impacted all mining operations in Kalimantan and beyond. Steps have been taken to alleviate the delays and for BBM to get back on track to mine coal in the second quarter of calendar 2022. In order to establish the mining contractor on site as early as possible it has been decided to mobilise using the exploration facility at Krajan. The heavy rain provides secure water depth to enable this to occur using the river. The unloading ramp is in good shape and the Krajan camp has been renovated for this work. The equipment to repair the culverts between Krajan and Pit 3, comprising 2 excavators, a dozer and a truck, is on site and working. Steel pipe for the culverts has been sourced and ordered. The first 6 of the 12 culverts are simple one pipe culverts and are expected to be completed in 2 weeks after pipe delivery. All 12 culverts will be completed by the end of the first quarter of calendar 2022 enabling the mining contractor to mobilise. At the same time logs to complete the Mohing bridge have been sourced and construction continues to complete this bridge. Additional rock breaking equipment has been deployed to create a path past the huge andesite intrusion which so far has blocked the path of road development from Batu Tuhup to Pit 3. Although progress is slow, the good news from this is that the crushed andesite will form an ideal all weather road surface gravel for the haul road. Annuncio • Feb 02
Cokal Limited Executes Agreement for Contract Mining Services for the BBM Coking Coal Project Cokal Limited referenced its announcement of 9 November 2020, which disclosed that Cokal had undertaken a tender process to select a contract mining services provider. As a result of the tender process, Cokal selected PT. Harmoni Panca Utama ("HPU") as the preferred tenderer to provide contract mining services for the development and mining of Cokal's Bumi Barito Mineral ("BBM") coal development project. The appointment of HPU was conditional upon Cokal and HPU entering into formal agreements between the parties, which has now been completed. Cokal is now endeavouring to commence development of BBM in an expedited timeframe and is working with HPU on the necessary operational and logistical matters. Reported Earnings • Oct 01
Full year earnings released - AU$0.0028 loss per share Over the last 12 months the company has reported total losses of US$2.57m, with losses widening by 39% from the prior year. Total revenue was US$9.35m over the last 12 months, up 83% from the prior year.