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Rsg - Resource Generation Limited - Sale Of Tasmanian Assets

Release Date: 31/08/2011 09:01:16      Code(s): RSG
RSG - Resource Generation Limited - Sale of Tasmanian Assets                    
Resource Generation Limited                                                     
Registration number ACN 059 950 337                                             
(Incorporated and registered in Australia)                                      
Share code on the JSE Limited: RSG                                              
Share code on the Australian Stock Exchange: RES                                
ISIN Code: AU000000RES1                                                         
("the Company")                                                                 
Sale of Tasmanian Assets                                                        
Resource Generation Limited has agreed to divest its Tasmanian coal tenements   
through the sale of all its shares in Energy Investments Pty Limited and Tiger  
Coal Pty Limited for $1.5 million. In addition, Resource Generation will receive
a royalty of $1.20 per tonne on all coal sold from any mine developed on these  
tenements.                                                                      
Following exploration and analysis the potential for the development of a mine, 
whilst present, would require funding and personnel commitments that would      
detract management from its main asset, the proposed Boikarabelo coal mine in   
South Africa, where there are probable reserves of 745 million tonnes of coal on
35% of the company`s tenements.                                                 
Completion of the sale is targeted for 16 September 2011.  The purchaser, which 
is a private company, has paid a non-refundable deposit of $150,000.            
Sydney, Australia                                                               
31 August 2011                                                                  
Contacts                                                                        
Paul Jury, Managing Director on (02) 9376 9000 or                               
Steve Matthews, Company Secretary on (02) 9376 9000                             
Media enquiries                                                                 
Anthony Tregoning (02) 8264 1000                                                
JSE Sponsor: Deloitte & Touche Sponsor Services (Pty) Limited                   
Resource Generation has coal interests in South Africa and Tasmania.  Its       
current priority is to develop its planned Boikarabelo mine in the Waterberg    
region of South Africa where there are probable reserves of 744.8 million tonnes
of coal on 35% of the company`s tenements.                                      
Date: 31/08/2011 09:01:16 Supplied by www.sharenet.co.za                     
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