Go Back Email this Link to a friend


Release Date: 31/05/2017 09:00:00      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
     (?Resource Generation? or the ?Company?)
     31st May 2017
     ASX Announcement

                                                                       Shareholder Update

     All party meeting
     Reference is made to the Shareholder Update dated 4th May 2017 (the Announcement) wherein
     it was advised that an ?all party? meeting to finalise the major contracts was planned for mid-May.
     After consultation with all parties the meeting was fixed for 25th May 2017. Unfortunately not all the
     parties we are able to commit to meet on the 25th May 2017 as anticipated, and the meeting has
     now been rescheduled for 14th June 2017.
     On this basis there will be a delay of approximately one month before the contracts are finalised
     and the lenders are able to commence their credit approval processes.

     Major Contracts
     In the interim the outstanding work on the Mining contract and Ancillary Works contract referred to
     in the Announcement has been completed and these contracts will be ready for submission to the
     lenders in a mature form by 31st May 2017 and will be reviewed at the 14th June meeting.

     Rail Link
     DBSA has submitted its application for credit approval and a determination is expected in early
     Transnet Freight Rail (TFR) has advised that it has received internal approval for the construction
     of the Network Stabilising Facility (NSF) which forms an integral part of the link between the main
     line to Richards Bay and the Boikarabelo Mine. TFR has mobilised its contractors and they are
     expected to be on-site by 30th June 2017. Construction of the NSF is scheduled to commence on
     1st July 2017 and to be completed by 30th September 2017.
Resource Generation Australia (ACN 059 950 337)
c/o Level 1, 17 Station Road, Indooroopilly, QLD, 4068
GPO Box 126, Albion QLD 4010. Phone +27 (012) 345 1057 Fax +27 (012) 345 5314
Directors: Denis Gately (Chairman), Lulamile Xate (Deputy Chairman), Robert Croll, Dr. Konji Sebati,
Colin Gilligan, Leapeetswe Molotsane, Manish Dahiya                                                    www.resgen.com.au
CEO: Rob Lowe
Company secretary: Mike Meintjes
Noble Group Limited
Approvals have been obtained to effect the second draw down under the extended Noble Facility
Agreement, notified to the market on 14th March 2017, ahead of schedule.

In order to accommodate the delay in the all party meeting the next board meeting will be
postponed to a date to be fixed in July.

Yours sincerely

Denis Gately
For and on behalf of the Board

About Resgen:

Resource Generation Limited (Resgen) is an emerging ASX and JSE-listed energy company,
currently developing the Boikarabelo Coal Mine in South Africa?s Waterberg region. The Waterberg
accounts for around 40% of the country?s currently known coal resources. The Coal Resources
and Reserves for the Boikarabelo Coal Mine, held through the operating subsidiary Ledjadja Coal,
were recently updated based upon a new mine plan and execution strategy. The Boikarabelo Coal
Resources total 995Mt and the Coal Reserves total 267Mt applying the JORC Code 2012 (ASX
Announcement: 23 January 2017. In accordance with Listing Rule 5.23.2 the Company confirms
that it is not aware of any new information that would impact on the reported Coal Resources and
Coal Reserves for Boikarabelo). Stage 1 of the mine development targets saleable coal production
of 6 million tonnes per annum. Ledjadja Coal is a Black Economic Empowerment subsidiary (BEE)
operating under South Africa?s Broad-based Black Economic Empowerment Act, Section 9(5):
Codes of Good Practice

ResGen?s primary shareholders are the Public Investment Corporation of South Africa (PIC), Noble
Group and Altius Investment Holdings.

For further information please contact:

Mike Meintjes, Company Secretary on mmeintjes@resgen.com.au or +61 413 706 143

Media enquiries:

Australia: Martin Debelle on + 61 282 340 102

                                                                                           PAGE 2
South Africa: Charmane Russell/Thembisa Kotobe on +27 11 880 3924

JSE Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd

                                                                    PAGE 3

Date: 31/05/2017 09:00:00 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             . The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Send e-mail to
© 2018 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.