Cokal (CKA) Q1 2027 TU earnings summary

Executive summary

• Mining remained heavily constrained pending Phase 2 RKAB approval, received mid-September; preparatory work was completed and mining and hauling resumed in October.

• Low river levels delayed barge movements and shipments; the next export is tentatively scheduled for mid-November, subject to navigable conditions.

Financial highlights

• Customer receipts were US$843k; operating cash outflow was US$604k, investing outflow US$277k and financing inflow US$879k.

• Quarter-end cash was US$193k, compared with US$194k at the start of the quarter.

• Cash payments included US$1.012m for production, US$249k for exploration and mine development, US$245k for staff and US$122k for administration and corporate costs.

• No coal sales were recorded in the quarter; proceeds from the prior quarter's ~10,200-tonne China export were received during this quarter.

Outlook and guidance

• Preparatory work followed approval of Phase 2 RKAB, and mining recommenced in October 2026; production plans for the rest of 2026 are being reassessed after the regulatory delay and amid hydrological constraints.

• The next shipment is tentatively scheduled for mid-November 2026, while domestic deliveries are being arranged for year-end; timing depends on river levels and suitable transport conditions.