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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")                                                      
Transnet Update                                                                 
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                                                                 
Sydney, Australia                                                               
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 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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