Playdough, i think you are expecting too much. The following was the plan outlined when it launched the capital raising. Whilst no progress announcements have been made the rights issue was only completed 1 month ago, well within the indicative "....next few months.." reference for commencement of preparatory work. I am no apologist for CKA management but I would not be expecting any developments/announcements from this lot before the end of the quarter.
Cokal’s technical team led by CEO Jim Coleman has prepared a detailed start up schedule to up-grade infrastructure at BBM. This will be incorporated into a contract tender. Part of the capital raised will fund the successful candidate to commence preparation of the PCI mine in the next few months As well, the haul roads will be upgraded and the barge loading port will be prepared at the Krajan site (near the location of BBM’s site office and accommodation).A comprehensive five year mineplan has also been prepared by Cokal’s mining team as the basis for a mining contractor tender. The processing and selection of the tender is expected to be completed by end of 2019 and PCI production expected to commence soon after.Throughout 2020 proceeds from PCI coal sales will fund the construction of haul roads to the coaking coal mining pits, the construction of a coal beneficiation plant, and expansion of the Krajan barge loading port.
CKA Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
