At the end of last Q company held US$158k cash and spent US$790k on exploration and development activities. Total available funding was $US3.158mill enough for an estimated 4 quarters.
At the end of this Q company holds US$482 cash and spent US$1525 on exploration and development activities. Total available funding is $US2.032mill, enough for an estimated 6 quarters.
From the report there is a quality issue but being addressed:
with only some concern surrounding theash levels in current coal specification. BBM is addressing the same and is in the midst of negotiating with aChinese contractor to set up a Coal Wash Plant by end of 2024 which will allow BBM to upgrade its Coking Coalquality to Premium standard.
No indication of costings for such but no doubt will be a cost included in the development activities. Once completed higher coal prices will be achieved. Is it a good Q report - progress is being made, so yes on that front at least. Hope that soon, repayment of loans will be in the rear view mirror and for CKA to start building cash. AIMO
CKA Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
