RESOURCE GENERATION LIMITED - Funds received from BlumontRelease Date: 02/01/2014 07:05:00 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?)
Funds received from Blumont
Further to the previous announcement on 18 December 2013, Resource Generation has
received the deposit of $2.5 million from Blumont Group Ltd (Blumont) regarding its
commitment to the placement of 102,596,530 shares at 22 cents per share, for which
payment of $22,571,236.60 was due on 4 December 2013.
The settlement of the balance, including a commercial rate of interest, is due to occur on
26 February 2014. If Blumont does not settle on 26 February 2014, the deposit of $2.5
million will be forfeited with no issue of shares in relation thereto.
Resource Generation reiterates that the proposed placement to Blumont is in addition to
the proceeds of $62.6 million from the recent entitlement offer, which was successfully
completed in October 2013.
2 January 2014
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: 02/01/2014 07:05:00 Supplied by www.sharenet.co.za
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