T +6 61 7 3001 4100 0 E info@ @cokal.com.au u Leve el 34, Riverside Centre, 123 Eaggle Street, Brisb bane QLD 4000 0 PO Box 7122, Brisb bane QLD 4001 1 N 55 082 541 43 37 (ASX: CKA)) ABN www.co okal.com.au u ASX ANNO OUNCEME ENT October 8 8, 2014 CO OKAL UPD DATE ON BB BM PROJEC CT Cokal Limited (ASX:C CKA) is plea ased to anno ounce that it continues s to make ggood progre ess with the e orks ahead of o the granti ng of the fin nal Borrow and a Use of F Forest Area a Permit. On n finalization of early wo ced that Plattinum Partn ners had exttended furthher funding via v a bridge e the 11th of August Cokkal announc w early workk to be unde ertaken and thereby ma aintain the prroject scheddule. loan to allow The early w works includ ded the final detailed en ngineering design d and contract c doccumentation to facilitate e the immediate comme encement off site based d constructio on once pro oject financiing docume entation hass pleted. been comp Final Borro ow and Use e of Forest Area Permiit A significan nt amount of the funds advanced b by Platinum Partners via a the extendded bridge lo oan were to o complete th he procedurral matters associated a w with processing of the final borrow w and use fo orestry area a permit. The e obtaining of o this permit is a condittion precede ent for the prrovision of thhe full fundin ng package.. The key acctivities which have been n occurring a are: • • • Surrvey and pe egging the approved bo undary and operationall area, the m majority of the concrete e bou undary pegss have been installed Pro ovision of va arious undertakings reg garding reha abilitation, a restorationn area (DAS S) has been n esta ablished nea ar the projec ct and inspe ections of the e progress have h occurreed. Payyment of Ap pplicable tax xes, this ha s involved the t detailed survey of aall trees of commerciall qua ality in the Forestry F area a, the compe ensation pa ayable to the e Forestry m ministry is de ependent on n the actual number of these e trees utilize ed in the are ea. A report prrepared by Cokal C in conjunction wiith the inspe ections undertaken by fforestry officials will be e submitted sshortly. Based on this report r the Fo orestry Dep partment willl issue the ffinal Borrow w and use off Forest Area a Permit. The majoritty of the bou undary pegs s have been installed an nd inspected d by forestry officers Early Work ks detailed engineerin ng and conttractual doc cumentation n To maintaiin the proje ect schedule e timeline a number of o critical pa ath construcction items have been n aking these items “shoovel ready” the projectt advanced through dettail design and quotattion. By ma mence as soon as the fu ull funding pa ackage is av vailable. construction can comm • • • • • Plottting / survey of road co orridor from Barito river to BBM bein ng carried ouut, 100% co omplete. The e cen nterline of the e road corrid dor has been n gradually cleared c and control c surveey marks established forr eartthworks cut and a fill contro ol. Purrnama Port la and mapping g complete a nd documen nts prepared for compenssation payme ents Som me minor eng gineering design optimize ed and finalized ready fo or re-pricing Dettailed Geological mappin ng and sam mpling has been underta aken with thee aim of inc creasing the e porttion of Meassured and Ind dicated Reso ources Dettailed river so ounding carried out : 9 Dredgin ng areas 9 Purnam ma Port 9 Puruk Cahu C to Kraja an 9 In excess of 30Gb of o data obtain ned and currrently being processed p Project Fin nancing Cokal and Platinum arre still finaliz zing the full funding pa ackage details, even thoough Platinu um partnerss er the two pa arties are co ontinuing to work in goo od faith. The e exclusivity period expirred on the 6th of Octobe he financing are in line with details aIready released to the market. C Cokal aim to o have mostt terms of th mpleted in the next four weeks w coincciding with the expected d timing of thhe removal of o the majorr details com condition precedent, th he issuance of the Borro ow and Use of Forestry Area Permitt. PROJECT OVERVIEW W duction IUP P covers an area of 14,9 es (ha), imm mediately adjjacent to BH HP Billiton’ss BBM’s Prod 980 hectare Juloi tenem ment. The te enement cov vers ground which has been zoned d as Producction Forest.. Production n Forest zone es are areass that have been design nated by the e Central Go overnment oof Indonesia to allow forr forestry and d mining acttivities by loc cal and interrnational companies. e Barito Riv ver and hass numerous outcrops of bright coaal. Coal co ore sampless The IUP sttraddles the analysis co onfirmed BB BM’s coal to o be a prem mium coking coal with Crucible S Swell Numbe ers (“CSN”)) values generally 9 or more. m • Coal Resourcce estimate of 261Mt at BBM, comp prised of 10.5Mt Measurred, 13.5Mt Indicated Total C and 237 7Mt Inferred d Resources s reported in n accordance e with the 20 012 JORC C Code* 08/10/14 Page 2 of 4 • Resourrce increase e attributed to o the additio onal ‘J’ Seam m in the KLM M area whicch is 100% Premium P Coking Coal • e total BBM Coal Resou urce is estim mated to be 90% 9 Cokingg Coal and 10% PCI Producct split for the • Producct split used in the Study y (approx. 20 0Mt) was ap pproximately y: 82% Cokinng Coal and d 18% PCI *The Total C Coal Resource e estimate wa as announced d on 11 Febru uary 2014, titlled “Cokal annnounces rele ease of JORC C Resource Sta tatement comp pliant with the e 2012 JORC C Code for Bumi Barito Mineral (BBM) M Metallurgical Coal C Project in n Central Kalim mantan, Indone esia”. The Co ompany confirrms that it is no ot aware of an ny new informaation or data that t materiallyy affects the in nformation included in the announcement a t made on 11 February 201 14 and that al l material ass sumptions and d technical parrameters unde erpinning the estimates e in th he announcem ment made on 11 February 22014 continue e to apply and d have not matterially change ed. ENDS Further enq quiries: Peter Lynch h Chairman Mobile: +61 419 764 747 Andrew Cro ook Media Enqu uiries Mobile: +61 419 788 43 31 About Cokal Limited Cokal Limited d (ASX:CKA) is an Australian listed com mpany with the e objective of becoming a m metallurgical coal producerr with a global presence. Cokal C has inte erests in five p projects in Ce entral Kaliman ntan and one project (whic ch holds three e est Kalimantan, Indonesia cconsidered pro ospective for metallurgical m ccoal. Cokal ha as also signed d exploration licences) in We a joint venturre with Tanzo oz Resource Company C Lim ited to explore for coal in Tanzania T and a co-operatio on agreementt with Mozamb bique Governm ment Mining Corporation, C E EMEM, to exp plore for cokin ng coal in the emerging coal province off Mozambique e. Forward Loo oking Statem ments This release includes forw ward looking statements. s O Often, but not always, forwa ard looking staatements can n generally be e orward looking g words such as “may”, “w will”, “expect”, “intend”, “plaan”, “estimate””, “anticipate”,, identified by the use of fo “continue”, a and “guidance e”, or other similar s words and may inc clude, withoutt limitation sta tatements reg garding plans,, strategies an nd objectives of manageme ent, anticipate ed production or constructio on commenceement dates and expected d costs or prod duction outputts. Forward lo ooking statem ments in this re elease include e, but are nott limited to, th he capital and d operating cosst estimates and a economic analyses from m the Study. Forward lookking statementts inherently in nvolve known and unknown n risks, uncerttainties and otther factors th hat may cause e the companyy’s actual resu ults, performan nce and achie evements to differ materially y from any futuure results, pe erformance orr achievementts. Relevant factors f may in nclude, but arre not limited to, changes in commodityy prices, foreign exchange e fluctuations a and general ecconomic cond ditions, increassed costs and d demand for production p inpputs, the spec culative nature e of exploration n and project development,, including the e risks of obta aining necessa ary licences a nd permits an nd diminishing g quantities or grades of resources or rese erves, politica al and social risks, changes to the regulattory framework k within which h the companyy operates or may in the future f operate e, environmen ntal conditions s including exxtreme weather conditions,, recruitment a and retention of o personnel, industrial relattions issues and litigation. Forward lookking statemen nts are based on the comp pany and its management’s m s good faith aassumptions relating r to the e financial, ma arket, regulato ory and otherr relevant envvironments tha at will exist and a affect thee company’s business and d operations in n the future. The T company y does not givve any assura ance that the assumptionss on which forward looking g statements a are based will prove to be correct, c or tha at the compan ny’s business or operationss will not be affected in anyy material man nner by these or other facto ors not forese een or foresee eable by the company c or m management or o beyond the e company’s co ontrol. Although the e company attempts to iden ntify factors th at would caus se actual actio ons, events oor results to differ materiallyy from those d y be other fa actors that coould cause actual a results,, disclosed in forward lookiing statementts, there may performance, achievemen nts or events not to be ant icipated, estim mated or inten nded, and maany events arre beyond the e cordingly, rea aders are cauttioned not to place p undue rreliance on fo orward looking g reasonable ccontrol of the company. Acc statements. Forward lookking statements in this relea ase are given n as at the datte of issue on nly. Subject too any continuin ng obligationss under applica able law or any relevant sttock exchang e listing rules s, in providing this informattion the comp pany does nott undertake an ny obligation to o publicly upd date or revise any of the forw ward looking statements s orr to advise of any a change in n events, conditions or circumstances on which w any succh statement is based. 08/10/14 Page 3 of 4 Competent P Person Statement The information in this rep port relating to Exploration R Results is base ed on informa ation compiledd by Patrick Ha anna who is a fellow of the Australasian Institute of Miining and Mettallurgy and is s a consultant (through Hannna Consulting g Services) to o Cokal Limited d. Mr Hanna is a qualified ge eologist and ha as sufficient exxperience whiich is relevant to the style oof mineralisatio on and type off er consideratio on and to the activity a which tthey are unde ertaking, to qua alify as Compeetent Persons s as defined in n deposit unde the 2012 Ediition of the “Au ustralasian Co ode for Reporrting of Explorration Results,, Mineral Resoources and Ore Reserves”.. onsents to the inclusion in th he report of the e matters based on the information, in thee form and context in which h Mr Hanna co it appears. The informattion in this re eport relating to Mineral Re esources is based b on inforrmation comppiled by Tri Yoso who is a Member of th he Australasia an Institute of Mining M and Me etallurgy and a full time emp ployee of Coka kal Limited. Mr Yoso is a qualified geo ologist and has s sufficient exxperience whic ch is relevant to the style off mineralisatio on and type off deposit unde er consideratio on and to the activity which he is underta aking, to qualify as a Comppetent Person as defined in n the 2012 Edittion of the “Au ustralasian Co ode for Reportiing of Explora ation Results, Mineral M Resouurces and Ore e Reserves”. Mr Yoso consents to the in nclusion in the e report of the e matters base ed on the inforrmation, in thee form and context in which h it appears. Note 1: Exp ploration Targ get All statementts as to Explorration Targets s of Cokal Limiited and statements as to potential qualityy and grade are a conceptuall in nature. Th here has been insufficient exploration e un ndertaken to date d to define a Coal Resoource and iden ntification of a Resource willl be totally de ependent on th he outcome o of further explo oration. Any statement s conntained in this document ass to exploration n results or Exploration Tarrgets has bee en made consistent with the e requirementts of the Austrralasian Code e for Reporting g of Exploration Results, Resources and O Ore Reserves (JORC Code). 08/10/14 Page 4 of 4
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