RSG - Resource Generation Limited - Transnet Update Release Date: 19/10/2011 11:08:23 Code(s): RSG
RSG - Resource Generation Limited - Transnet Update
Resource Generation Limited
ACN 059 950 337
(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
(JSE short name: "Resgen")
Resource Generation notes the report in the South African Coal Report
("SACR"), which was published late yesterday by Energy Publishing (Pty)
Limited. The SACR states that: `Transnet is putting the finishing touches to
a memorandum of understanding ("MOU") with Resource Generation, providing
comfort of coal haulage for the Boikarabelo project`.
The SACR quotes an interview with Brian Molefe, the CEO of the Transnet Group
stating: `an agreement would be finalised by the end of the week`. The SACR
further quotes Divyesh Kalan, the GM Transnet Group Commercial, who stated:
`it`s somewhere between providing comfort and a guarantee`.
Resource Generation confirms it has been in negotiations with Transnet and an
MOU has been signed by its subsidiary, Ledjadja. It is awaiting confirmation
from Transnet that it agrees to the MOU and will sign it. Once agreement and
Transnet`s signature is received, the market will be informed of the major
terms of the MOU.
19 October 2011
Paul Jury, Managing Director on (02) 9376 9000 or
Steve Matthews, Company Secretary on (02) 9376 9000
Anthony Tregoning (02) 8264 1000
JSE Sponsor: Deloitte & Touche Sponsor Services (Pty) Limited
Resource Generation is developing the Boikarabelo coal mine in the Waterberg
region of South Africa where there are probable reserves of 744.8 million
tonnes of coal on 35% of the tenements under its control.
Date: 19/10/2011 11:08:23 Supplied by www.sharenet.co.za
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