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RSG - Resource Generation - Resource Generation successfully raises a$30 million

Release Date: 05/11/2010 09:45:01      Code(s): RSG
RSG - Resource Generation - Resource Generation successfully raises a$30 million
through an equity raising                                                       
Resource Generation Limited                                                     
(Incorporated and registered in Australia)                                      
(Registration number ACN 059 950 337)                                           
Share code on the JSE Limited: RSG                                              
ISIN: AU000000RES1                                                              
Share code on the Australian Stock Exchange Limited: RES                        
ISIN: AU000000RES1                                                              
("Resource Generation" or "the Company")                                        
Resource Generation is pleased to announce the success of its equity capital    
raising.  A$30 million has been raised through 60 million shares at A$0.50 per  
share.  Citigroup Global Markets Australia Pty Limited acted as Sole Lead       
Manager and Bookrunner to the placement and placed the shares with institutional
and sophisticated investors.  The offering was oversubscribed and received      
strong interest from Australian and global investors.                           
The placement will be issued in two tranches, with an initial unconditional     
tranche of 27.4 million shares to be issued on Wednesday, 10 November 2010 and  
the balance of 32.6 million shares to be issued conditional on the receipt of   
shareholder approval. Resource Generation will seek shareholder approval for the
conditional tranche of the placement and ratification of the unconditional      
tranche at a general meeting to be held on or about 13 December 2010.           
Following the share issues in these two tranches, the Company will have         
242,680,530 ordinary shares on issue.                                           
Resource Generation has previously announced that it is bringing forward the    
need to construct the rail link from the Boikarabelo mine to the existing rail  
network in South Africa.  The proceeds raised under the equity raising will be  
used primarily for the rail link land acquisitions and access rights as well as 
other expenditure for the Company`s Boikarabelo Mine in South Africa and for    
working capital.                                                                
The Board has also decided to invite shareholders to participate in the Resource
Generation Share Purchase Plan ("the SPP").  The SPP entitles shareholders in   
the Company, irrespective of the size of their shareholding, to purchase up to  
A$15,000 worth of shares in the Company at A$0.50 cents per share, being the    
same price paid by institutional shareholders in the share placement.  The      
record date for participation is 3 November 2010. Further details will be sent  
to shareholders shortly.                                                        
Sydney, Australia                                                               
5 November 2010                                                                 
Deloitte & Touche Sponsor Services (Pty) Limited                                
Date: 05/11/2010 09:45:01 Supplied by www.sharenet.co.za                     
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