COKAL
Cokal Limited (ASX: CKA) is an Australian coal exploration and development company that identifies and develops coal assets, currently in early-stage production generating $3.67M in FY2024 revenue while sustaining material operating losses.
- Company typePrivate
- Founded1998
- HeadquartersBrisbane, Australia
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What COKAL does
Cokal Limited (ASX: CKA) is an Australian for-profit public company engaged in the exploration, identification, and development of coal assets. Founded in 1998 and headquartered in Brisbane, Australia, the company operates with approximately 51–100 employees. Its core business is the upstream end of the coal value chain — acquiring, exploring, and developing coal tenements with the objective of bringing mineral resources into production. The company's website (cokal.com.au) was not accessible at the time of data capture, so detailed information on specific projects, geographies within the coal portfolio, and customer relationships is limited.
FY2024 marked COKAL's first reported material revenue of approximately $3.67M, with gross profit of $908K, indicating the company has transitioned from pure exploration into early-stage coal production. However, the business remains well short of commercial scale: EBITDA losses have run between $5.7M and $9.0M annually from FY2022 through FY2025, and net losses exceeded $9.8M in FY2024. The company is therefore in a cash-consumption phase, funding ongoing development from prior capital raised via its ASX listing. With an enterprise value of approximately $82.8M, the market is pricing in future production growth and resource conversion rather than current cash flow.
The business model is straightforward commodity sales: extract (or in COKAL's case, develop for extraction) and sell coal to industrial buyers, likely in Asia-Pacific markets given the company's Australian base and typical junior-coal export patterns. Revenue mechanics, pricing structure, and customer concentration are not disclosed in the available data. The principal commercial variable is the gap between development-stage capex/opex and the eventual scale of production revenue — a bridge that has not yet closed given the persistent operating losses.
COKAL firmographics
Firmographics- Name
- COKAL
- Website
- https://cokal.com.au
- Company type
- Private
- Founded year
- 1998
- Headcount range
- 51–100 employees
- Short description
- Cokal Limited (ASX: CKA) is an Australian coal exploration and development company that identifies and develops coal assets, currently in early-stage production generating $3.67M in FY2024 revenue while sustaining material operating losses.
- Ownership category
- akta.pro rank
COKAL industry classification
Industry- Product category
- Coal Mining
- NAICS
- Coal Mining (21211), Support Activities for Coal Mining (213113)
- SIC
- Bituminous Coal & Lignite Mining (1220)
- akta.pro primary industry
- Coal Exploration & Resource Development (IMAKAIAE)
Keywords
Where COKAL is headquartered
LocationHeadquarters
- HQ city
- Brisbane
- HQ country
- Australia
- HQ region
- Oceania
Markets served
COKAL business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Infrastructure
COKAL product offering
Product offeringCore offering
Cokal Limited is a publicly listed coal company that engages in the exploration, identification, and development of coal resources. The company's activities are focused on advancing coal projects in Australia. The provided source data indicates minimal revenue (approximately $3.67M in 2024) and sustained operating losses, consistent with a development-stage mining company working to bring its coal assets toward production.
Product overview
No product information available. The COKAL website (cokal.com.au) displayed only a loading/verification page with no accessible content about the company's products, services, or offerings.
Differentiator
Problem solved
Functional benefit
Products and services
- Coal exploration and development Exploration, identification, and development of coal resources by Cokal Limited, a publicly listed Australian coal company. Intended for industrial coal buyers (steel producers, utilities, other industrial users) once projects reach production.
Companies that use COKAL
Customer profileIdeal customer profiles1 record
COKAL technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
COKAL partnerships and signals
Strategic signalRecent moves3 records
Expansion highlights2 records
COKAL competitors and assessment
Company assessmentBroad incumbents
- Coronado Global Resources: ASX-listed global metallurgical coal producer with Australian and US operations. Comparable as a major coking coal producer in the same basin geography.
- New Hope Corporation: ASX-listed Australian coal producer with thermal coal operations. Comparable as a publicly traded Australian coal company, though at much larger scale.
- Yancoal Australia: Australia's largest pure-play coal producer, listed on ASX. Operates thermal and metallurgical coal mines across Australia and is a much larger incumbent in the same commodity space.
- Peabody Energy: Large US-listed coal producer with metallurgical and thermal operations globally. Comparable as a major established coal miner with similar end-market exposure.
- BHP Mitsubishi Alliance (BMA): BHP's joint venture metallurgical coal operations in Queensland's Bowen Basin. Operates in the same commodity and geography as COKAL at much larger scale.
Direct peers
- Bowen Coking Coal: ASX-listed junior metallurgical coal producer focused on Queensland coking coal assets. Closely comparable development-stage profile and product mix to COKAL.
- Whitehaven Coal: ASX-listed Australian coal producer with a focus on metallurgical and thermal coal. Directly comparable as a publicly traded Australian coal developer/producer operating in similar geographies and end markets.
- Warrior Met Coal: US-listed pure-play metallurgical coal producer. Comparable as a publicly traded met coal specialist focused on steelmaking end markets.
- Stanmore Resources: ASX-listed metallurgical and thermal coal producer operating in Queensland's Bowen Basin. Highly comparable product mix and operating geography to COKAL.
Emerging players
- Tamboran Resources: ASX-listed early-stage energy developer with coal seam gas assets. Comparable as a small-cap ASX-listed resource developer, though in natural gas rather than coal.
Market position
Strengths3 records
Weaknesses3 records
Competitive moat2 records
Key risks4 records
Key highlights3 records
Customer concentration
COKAL financial estimates
Financial estimateRevenue estimate
Valuation estimate
COKAL leadership team
Management profileNumber of profiles
COKAL funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
COKAL M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about COKAL
What does COKAL do?
Cokal Limited is a publicly listed coal company that engages in the exploration, identification, and development of coal resources. The company's activities are focused on advancing coal projects in Australia. The provided source data indicates minimal revenue (approximately $3.67M in 2024) and sustained operating losses, consistent with a development-stage mining company working to bring its coal assets toward production.
When was COKAL founded?
COKAL was founded in 1998. It employs 51 to 100 people.
Where is COKAL based?
COKAL is headquartered in Brisbane, Australia, in the Oceania region.
Who are COKAL's main competitors?
Broad incumbents on record are Coronado Global Resources, New Hope Corporation, Yancoal Australia, Peabody Energy and BHP Mitsubishi Alliance (BMA). Direct peers are Bowen Coking Coal, Whitehaven Coal, Warrior Met Coal and Stanmore Resources. Tamboran Resources is listed as an emerging player.
Does COKAL have an API?
No public API is recorded for COKAL.
What industry is COKAL in?
COKAL's product category is Coal Mining. Its primary akta.pro industry code is IMAKAIAE, Coal Exploration & Resource Development. Its NAICS code is 21211 and its SIC code is 1220.