Cokal (CKA) Q2 2025 TU earnings summary

Executive summary

• Secured US$3.0M funding from PT Petrindo, with US$1.45M in coal presales and US$1.56M for infrastructure upgrades.

• Entered a transformative strategic partnership with Cratus Group, enhancing coal sales, distribution, transport infrastructure, and debt finance.

• BBM mine ramping up production, supported by new mining fleets and logistics upgrades, targeting cost reductions and higher output.

• BBM shipped 18,827 mt of coal to China in December 2024.

Financial highlights

• Ended the quarter with US$254k in cash and US$1.55M in undrawn facilities.

• Net cash used in operating activities was US$2.54M for the quarter.

• Net cash from financing activities was US$3.1M, including US$2.48M from coal prepayment.

• Payments to related parties totaled US$42k; US$265k spent on exploration and development.

Outlook and guidance

• Anticipates increased revenue in upcoming quarters due to scheduled coal shipments and contracted sales of 15,000 tonnes, with negotiations for an additional 20,000 tonnes.

• Infrastructure funding and production expansion financing finalized and expected to be received in Q1 2025.

• Expects to exceed first quarter sales targets and maintain stable, increasing output.