Cokal Limited (ASX:CKA, “Cokal” or “the Company”) refers to previous announcements of 11 May 2018 and 28 May 2018. Domain International Holdings Ltd (“Domain”) has confirmed that approvals for the transfer of the first $1million under the funding term sheet (“Term Sheet”) are still in process and that while it is taking longer than expected, they have confirmed that it is proceeding.
Domain has arranged a meeting at their office in Xiamen, China at the end of this week. Cokal Chairman, Domenic Martino will attend the meeting on Cokal’s behalf. The meeting is proceeding on the basis that the initial deposit will be received and the term sheet rendered binding. This meeting is being held to outline the steps forward to take the BBM Coking Coal Project to production, including discussions on the resources to be supplied by Domain and its partners and the establishment of a joint working team and timetable.
Cokal is continuing discussions with parties on the funding of the separate BBM PCI Project.
CKA Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
