E 29 th July. Metallurgica. Premiumm Kalimantan. Projects. owned. state EMEM. of $12M

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1 T E fo@cokal.com.au Level 18, 123 Eagle Street, Riverside Centre, Brisbane QLD 4000 GPOO Box 7122, Riverside Centre, Brisbane QLD 4001 ABN (ASX: CKA) 29 th July 2011 QUARTERLY REPORT FOR THE 3 MONTHS ENDED 30 th June 2011 HIGHLIGHTS Premiumm Quality Kalimantan Metallurgica Coal confirmed Central Additional drill Rigs to BBM project Central Kalimantan Agreement signed to acquire an additional 10 of BBM & BBP Projects. Co Operation Agreemen nt signed with Mozambique state owned EMEM Employed further senior management employeess Private share placement of $12M to Passport Capital

2 Corporate Non brokered, Private Placement to Passport Capital* As announced on 13 th April,, 2011, Cokal Limited ( Cokal ) completed a non brokered private placement to Passport Capital LLC and associated entities ( Passport ) raisg $12.0m (16 million ordary shares at $0.75 per share). s This placement was at a premium to the market and Cokal has welcomed Passport to the Cokal registerr as a substantial shareholder, with its record for long term growth orientated stocks. New Senior Staff Cokal has employed new senior staff to contue growg the technical capability with the company. Tri Yoso has been employed as Senior Resourcee Geologist to providee technical assistance geological reportg, modellg and developg JORC compliant resources across the company. Tius Syal has confirmed his employment with Cokal commencgc g August Central Kalimantan. Co Operation Agreement Signed with Mozambique Government Ownedd EMEM Cokal signed a Co operation Agreement with Empresa Moçambicanaa de Exploração Meira (EMEM Mozambique Mg Exploration Company) to, explore tenements Mozambique for coal mg potential and jotly developp mes and associatedd facilities. EMEM is a state owned corporation formed by the Mozambique governmentt order to participate mg projects, undertake exploration and mg development as well as promotg value addition to meral products. The formationn of EMEM followed recognition r by the Mozambique Government that coal was pivotal too the country s future economic development the terest of all Mozambiquans. Mozambique is developg a major cokg coal bas and is poised too become Africa s major cokg coal producer, and a major player the world cokg coal market. Projects this bas are beg developed by ternational mg companies cludg Valee (Brazil), Riversdale ( Rio Tto), Revubue (Nippon Steel, Posco et al). Additional 10 of BBM & BBP Projects Procured An arrangement has been entered to to acquire a further 10 of both BBM & BBP projects. The price is broadly le with the origal purchase and the company c has sufficientt funds to complete the transaction followg regulatory approvals and appropriate due diligence. Page 2 of 5

3 Coal Quality Results BBM project Australian Laboratory resultss have confirmed premium quality metallurgical coal at the BBM project Central Kalimantan. Results from 4 cores and one channel sample confirm multiple seams. Coal quality ranges from premium cokg coal to ultra low volatile PCI, all with highly sought qualities (refer Table 1 and Table 2). Table 1: Showg the range of product coal qualities which result from the samples s analysed from exploration to date. Some products are raw situ while others post float sk testg (@1.6RD)) with a laboratory yields rangg from 76.8 to 83.9 Product Ash Vols. Fixed Carbon Moisture ad Total Sulphur Phos Calorific Value Kcal/kg CSN Vitrite Content Ultra Low Vol PCI Low Vol PCI Blend Cokg Coal Premium Cokg Coal > Table 2: Relative location of exploration results obtaed from the BBM project Hole / Sample Eastg (local Grid) Northgg (local Grid) Collar RL angle o Remark Depthh to 1st Coal Nettt Coal ) No seams / plys Depth to base Coal BBM ,793 9,761, Drillhole BBM ,794 9,763, Drillhole BBM ,665 9,762, Drillhole BBM ,640 9,763, Drillhole Channel Sample 281,5666 9,760, Outcrop Page 3 of 5

4 Exploration Central Kalimantan Drillg contued the BBM (Bumi Barito Meral) project Central Kalimantan durg the June 2011 quarter. Additional drillg rigs have commenced BBM durg this quarter to focus on areas where high quality metallurgical can be defed for early mg potential. This drillg contues on from the mappg and itial sgle drill work undertaken previously. Coal quality resultss were released durgg the June 2011 quarter. BBM is located immediately adjacent to BHPB s Juloi project and is bisected by the Barito River. Tanzania Drillg commenced Tanzania durg the June quarter and itial drillg results are planned for release the September quarter. Figure 1: Locality plan of the Central Kalimantan Coal Projects on the island of Kalimantan Coal concession areas are shown blue. Page 4 of 5

5 About Cokal Limited Cokal is an ASX listed company which has the objective of becomg a cokg coal producer with a global presence. Cokal has terests four projects Central Kalimantan, Indonesia considered prospective for cokg coal, and a jot venture Tanzania. For further formation please refer to our website au or contact: On behalf of the Board Peter Lynch Chairman Media Enquiries Andrew Crook ASX CODE: CKA Forward Lookg Statements Statements regardg plans with respect to thee Company s exploration properties p aree forward lookg statements. There can be no assurance that the Company s plans for development of its properties will proceed as currently expected. There can also be no assurance a that the Company will be able to confirmm the presence of additional deposits, that any meralisation will prove to bee economic or that a me will w successfully be developed on any of the Company s exploration properties. Competent persons The formation this report relatg to exploration results is based on formation compiled by Patrick Hanna who is a fellow of the Australasian Institute of Mg and Metallurgy and is a consultant (through Hanna Consultg Services) to Cokal Ltd. Mr Hanna is a qualified geologist and a has sufficient experience which is relevant to the style of meralisation and type of deposit under consideration and to the activity which he is undertakg, to qualify as Competent Person as defed the 2004 Edition of the Australasian Code for Reportg of Exploration Results, Meral Resources and Ore Reserves. Mr Hanna consents to the clusionn the reportrt of the matters based on the t formation, the form and context which it appears. Page 5 of 5