RESOURCE GENERATION LIMITED - Clarification of incorrect media reportsRelease Date: 10/12/2013 08:45:00 Code(s): RSG
Resource Generation Limited
Registered in Australia under the Corporations Act, 2001 (Cth) with
registration number ACN: 059 950 337
Share Code on the ASX: RES
Share Code on the JSE: RSG
("Resgen" or the ?Company?)
Clarification of incorrect media reports
It has come to Resource Generation?s attention that recent media reports in Business Day
and Mining MX in South Africa have erroneously referred to the proposed placement of
shares to Blumont Group Limited (Blumont) as part of the recently completed entitlement
offer. This is incorrect.
As announced on 26 July 2013 and 22 October 2013, the full $62.6 million sought
through a 1 for 1 entitlement offer at $0.22 per share was successfully completed, with all
funds being received. The proposed placement of 102,596,530 shares at $0.22 per share
to raise $22,571,236.60 from Blumont is in addition to the entitlement offer proceeds.
As announced on 5 December 2013, shareholder approval was received at the AGM held
on 29 November 2013 for the placement to Blumont. Funds were due on 4 December
2013 but have not been received. The Company is taking action to obtain the funds from
10 December 2013
Macquarie First South Capital Proprietary Limited
Paul Jury, Managing Director on (02) 9376 9000 or
Steve Matthews, Company Secretary on (02) 9376 9000
Anthony Tregoning (02) 8264 1000
Resource Generation is developing the Boikarabelo coal mine in the Waterberg
region of South Africa, which accounts for 40% of the country?s remaining coal
resources. There are probable reserves of 744.8 million tonnes of coal on 35% of
the tenements under the company?s control. Stage 1 of the mine development targets
saleable coal production of 6 million tonnes per annum.
Date: 10/12/2013 08:45:00 Supplied by www.sharenet.co.za
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