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RESOURCE GENERATION LIMITED - Mine Construction Commences / Debt Finance Update

Release Date: 21/02/2013 09:06:00      Code(s): RSG     
Resource Generation Limited
Registered in Australia under the Corporations Act, 2001 (Cth) with registration number ACN: 059 950 337
ISIN: AU000000RES1
Share Code on the ASX: RES
Share Code on the JSE: RSG
("Resgen" or the ?Company?) 

ASX Release

Mine Construction Commences / Debt Finance Update

Mine construction activities have commenced at Boikarabelo with the site now classified
as an operating mine site. Initial activities encompass site infrastructure, roadworks and
water and power connections. Further geotechnical boreholes are also being drilled
across the initial mining area.

As previously announced, in late December 2012 Resource Generation Limited (the
Company) agreed a terms sheet with the mandated group of financiers with respect to the
proposed debt facilities to fund the development of the Boikarabelo mine.

Due diligence investigations were completed by the independent technical, market, legal
and other consultants engaged on behalf of the financiers. Those investigations
confirmed the Company?s view that there are no material issues affecting the
development or financing of the Boikarabelo mine.

The Company continues to assist the financiers with respect to enquiries arising out of
their approval processes. The Company does not anticipate any significant delay in the
completion of the credit approval process.

21 February 2013

JSE Sponsor:
Macquarie First South Capital (Proprietary) Limited

Paul Jury, Managing Director on (02) 9376 9000 or
Steve Matthews, Company Secretary on (02) 9376 9000

Media enquiries
Anthony Tregoning (02) 8264 1000

 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. Stage 1 of the mine development
 targets saleable coal production of 6 million tonnes per annum.

Resource Generation Limited (ACN 059 950 337)             www.resgen.com.au
Level 12 Chifley Tower, 2 Chifley Square, Sydney NSW 2000
GPO Box 5490, Sydney NSW 2001. Phone +61 2 9376 9000 Fax +61 2 9376 9013

Date: 21/02/2013 09:06:00 Supplied by www.sharenet.co.za                     
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