CKA

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8.0¢ cokal limited

Ann: Mining Recommences Ahead of Schedule at BBM, page-24

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12/12/23

11:10

Post #: 71400731
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Originally posted by coeus12345: ↑

Wonder why this isn't highlighted by the management enough??

the way I understand it is that ICT (Eddie) will pay CKA 50% of the coal price upfront once the coal is stockpiled at Batu Tuhup for a fee of 6% of the coal price.

met coal currently trading at $330/t. add a 10% discount as per CKA pricing guidance = $300/t realised price. so once the coal is at Batu Tuhup -- Eddie pays CKA $150/t upfront before any sales. Ofcourse he will take a hefty $18/t as fees once the coal is sold (6% of $300).

but for the time being, this $150/t should easily cover the mining cost for the coal. CKA guiding for $130/t including royalty and shipping costs. excluding those two costs, mine level costs should be sub $100/t -- while Eddie is paying $150/t.

does anyone else disagree with this view ? it would seem to me that CKA's new mining contractors can continue mining and stockpiling coal at Batu Tuhup even if first coal sales is delayed.

Ofcourse there will be a limit to how much bridge financing Eddie is willing to incur, before pulling the plug.

disagree ?? why is the company not making this abundantly clear to the market if what I understood is how it's set up

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This agreement is very unclear which is why I campaigned against it. My problem was with the detail. Take current scheduled shipment 15,000 tonnes, does this lot qualify? Or is it below 30,000 tonne lot and not eligible?
Do we simply need to get 30,000 tonnes at Batu Tuhup to get 50%?
You tell me! We'll find out soon.

CKA Price at posting: 12.0¢ Sentiment: Buy Disclosure: Held
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