Cokal Limited · ASX:CKA
Cokal — Investor Presentation (February 2023)
24 slides from Cokal's investor presentation, Feb 23, 2023
Slide 1: High Quality Metallurgical Coal Producer
For personal use only HIGH QUALITY METALLURGICAL COAL PRODUCER INVESTOR PRESENTATION | February 2023
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer This presentation has been prepared by Cokal Limited (the Company or CKA). The information contained in this presentation is a professional opinion only and is given in good faith. The material in this presentation For personal use only (“material”) is not and do
Slide 3: Cokal is ramping-up production of high-quality, high-margin metallurgical coal from its BBM mine
Cokal is ramping-up production of high-quality, high-margin metallurgical coal from its BBM mine INVESTMENT HIGHLIGHTS ASX CODE SHARE PRICE Production has commenced at Cokal’s BBM Coal Mine, with near- For personal use only term coal sales to generate lucrative cash flows CKA A$0.185a ▪ First coal s
Slide 4: Projects Located in Major Emerging Coking Coal Basin
Projects Located in Major Emerging Coking Coal Basin PROJECT SUMMARY PROJECT LOCATIONS ▪ Four prospective exploration & development coking coal For personal use only Indomet Coal (Adaro) projects, in Central Kalimantan, Indonesia World-class development asset | Prod. 25Mtpa HCC | Opex - Globally sig
Slide 5: Cokal's Indonesian Partners
Cokal’s Indonesian Partners High profile Indonesian Shareholders and Local Partners Significantly Mitigate any Indonesian Country Risk Aahana Mineral Resources (“Aahana”) For personal use only ▪ Cokal’s largest shareholder (19.6% interest) ▪ Arranged the financial resources and local relationships r
Slide 6: BBM is a high-quality producer of premium coking coal products
BBM is a high-quality producer of premium coking coal products BBM TARGETED PRODUCTION FORECAST – (Mtpa)a Location Mtpa For personal use only Puruk Cahu Regency of Central Kalimantan, Indonesia 2.2 Production a 2.0 2.0 2.0 0.8Mt saleable 2023, ramping-up to 1.8Mt 2024, and 2.0Mt from 2025 | Life- 2.
Slide 7: BBM Valuation Analysis: Significant re-rating opportunity for Cokal
BBM Valuation Analysis: Significant re-rating opportunity for Cokal The valuation of Cokal’s 60% interest in BBM is estimated at A$432m to A$1.8bn a The valuation of BBM is rapidly increasing given current market dynamics For personal use only BBM Valuation Summary – DFS Base Case Valuation of Cokal
Slide 8: BBM will generate highly attractive near-term cashflows
BBM will generate highly attractive near-term cashflows BBM FINANCIAL PERFORMANCE COKAL’S SHARE OF EBITDA (based on LOM Avg Coal Prices) – (A$m) For personal use only The ramp-up in production from BBM will generate A$m lucrative near-term cashflows 120 ▪ Highly attractive margins on spot coal price
Slide 9: High-quality coal products to receive strong seaborne market demand
High-quality coal products to receive strong seaborne market demand COAL QUALITY ANALYSIS BBM COKING COAL SPECIFICATIONS For personal use only ▪ BBM coking and PCI coal products have attractive attributes Fixed Total Calorific Relative - Low ash, low volatiles, low sulphur, high vitrinite and ultra-
Slide 10: Efficient and multi-faceted infrastructure solution
Efficient and multi-faceted infrastructure solution BBM LOGISTICS CHAIN BBM COAL EXPORT INFRASTRUCTURE SOLUTION Full infrastructure solution in place. Cokal will access the lucrative coking coal For personal use only seaborne export market through a logistics chain of: 1.1 Trucking from the BBM mine
Slide 11: TBAR – Drilling to commence on highly prospective project
TBAR – Drilling to commence on highly prospective project, with potential for extensive coal resources PROJECT LOCATION Project Overview ▪ Located in Central Kalimantan, Indonesia; adjacent to BBM For personal use only - Cokal holds a 75% interest and is the project manager - Large 18,850 ha. projec
Slide 12: BBM – Key Milestones Achieved in 2022
BBM – Key Milestones Achieved in 2022 KEY MILESTONES BBM DEVELOPMENT BBM Production Successfully Commenced For personal use only ▪ BBM commenced production after successful initial development. ▪ First coal sales Q1 2023. ▪ Overburden removal for initial coal mining completed. Strategic Asset Acquis
Slide 13: BBM Coal Production
BBM Coal Production For personal use only Photo: Krajan Jetty Coal Stockpile 13
Slide 14: BBM Coal Production
BBM Coal Production For personal use only 14
Slide 15: BBM Coal Production
BBM Coal Production For personal use only 15
Slide 16: BBM Mine Development
BBM Mine Development For personal use only 16
Slide 17: BBM Mine Development
BBM Mine Development For personal use only 17
Slide 18: Investment in Transport Infrastructure
Investment in Transport Infrastructure Ownership of transport infrastructure has material strategic & operational advantages, and financial rewards Cokal has established PT Barito Samudera Nusantara and is investing in barges and tugboats for transportation of coal from the Krajan Jetty to the Batu
Slide 19: Mohing Road - Development Progress (including Mohing Bridge)
Mohing Road - Development Progress (including Mohing Bridge) For personal use only The 98Km road from BBM Pit 3 to Batu Tuhup Jetty is nearing completion, and will be operational in early Q2 2023. 19
Slide 20: Investment in Transport Infrastructure
Investment in Transport Infrastructure Ownership of transport infrastructure has material strategic & operational advantages, and financial rewards Cokal is Developing the Batu Tuhup Jetty for shipment of coal down the Barito River For personal use only Batu Tuhup Jetty Development Milestones - 2022
Slide 21: Batu Tuhup Jetty Development Photos
Batu Tuhup Jetty Development Photos For personal use only 21
Slide 22: Board & Key Management Profiles
Board & Key Management Profiles Cokal has a wealth of expertise and experience in its leadership team For personal use only Domenic Martino Allen Delbridge Karan Bangur Eddie Chin Pak Sukardi Non-Executive Chairman Non-Executive Director Director and CEO President Commissioner of President Director
Slide 23: Strategic Plan for 2023
Strategic Plan for 2023 Key Targets - 2023 ▪ Ramp-up metallurgical coal production at BBM, targeting 0.8Mt in 2023, 1.8Mt in 2024, and For personal use only 2.0Mt in 2025 ▪ Complete the drilling programme at the TBAR asset and declare an initial JORC Resource - Targeting commencement of mining in 20
Slide 24: Cokal Ltd
Cokal Ltd For personal use only Jakarta: The Bellezza Office Tower 21 Floor, Unit 3 & 5 Arteri Permata Hijau Jalan Mayjen Soepeno Kav 34 Permata Hijau, Kebayoran Lama Jakarta Selatan 10210 Indonesia Karan Bangur (kb@cokal.com.au) Sydney: Level 5, 56 Pitt Street Sydney NSW 2000 Australia Domenic Mart