COKAL SECURES EXTRA FUNDING

Written on the 11 August 2014

COKAL SECURES EXTRA FUNDING

COKAL Limited (ASX:CKA) has secured more than $6 million in additional loan funds, to progress its Bumi Barito Mineral (BBM) project.

The metallurgical coal group finalised the financing package from a fund managed by Platinum Partners, taking the total loan for the development to $9.85 million.

Platinum agreed to the advance based on the progress made with the BBM project to date and the extension of the exclusivity period until October 6.

Cokal says the funds will be used for detailed engineering and final design process, so onsite construction can commence.

The BBM funding package includes the proposed grant of 100 million warrants, with an exercise price of $0.20 over a period of four years.

Cokal will grant 15 million of these options, with the remaining 85 million to be granted subject to shareholder approval.


Latest News

SUPER RETAIL GROUP SAYS GOODBYE TO AMART SPORTS BRAND

A BRAND synonymous with Australian sporting goods, Amart Sports, will be retired from 1 November 2017. Super R...

SUPREME COURT GRANTS LEAVE FOR CLASS ACTION AGAINST DICK SMITH

A CLASS action law suit against Dick Smith has been given the green light for shareholders impacted by the company...

NEXTDC SHARES SOLD OFF AS ONGOING SPAT WITH 360 CAPITAL CONTINUES

SHAREHOLDERS in data centre operator NextDC (ASX: NXT) have dumped their stock in the company as its ongoing war of w...

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent res...

Related News

SUPER RETAIL GROUP SAYS GOODBYE TO AMART SPORTS BRAND

A BRAND synonymous with Australian sporting goods, Amart Sports, will be retired from 1 November 2017. Super R...

SUPREME COURT GRANTS LEAVE FOR CLASS ACTION AGAINST DICK SMITH

A CLASS action law suit against Dick Smith has been given the green light for shareholders impacted by the company...

NEXTDC SHARES SOLD OFF AS ONGOING SPAT WITH 360 CAPITAL CONTINUES

SHAREHOLDERS in data centre operator NextDC (ASX: NXT) have dumped their stock in the company as its ongoing war of w...

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent res...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter