Key Highlights
§ Transformational financing package negotiated to provide Cokal Limited with a minimum A$67 milliona in funding for the development of its Bumi Barito Mineral (“BBM”) Coking Coal Project
§ A combined debt and equity financing package will provide funding for the full development of the BBM Coking Coal Project to a capacity of 2 million tonnes per annum (“Mtpa”) of coking coal production b
§ Attractive and strategic potential funding solution for Cokal, elevating the Company to a significant international coking coal producer
Cokal Limited (ASX:CKA, “Cokal” or “the Company”) is pleased to announce that it has signed a Term Sheet for a financing package of no less than A$67 million for the development of its BBM Coking Coal Project with Domain International Holdings Limited (“Domain”) (the “Agreement”). Domain is a major Asian minerals development company. Domain has been in discussion with Cokal for the past 12 months and has conducted detailed Due Diligence on the BBM Coking Coal Project’s feasibility documentation. In addition, Domain has sent its technical team to inspect Cokal’s BBM Anak PCI coal mining operation. Domain is more than satisfied with its findings and is intent on its involvement in the BBM Coking Coal Project mining opportunity. The Agreement is expected to provide an attractive and strategic funding solution for Cokal, transforming the Company to a major international coking coal producer.
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