RESOURCE GENERATION LIMITED - Shareholder UpdateRelease 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
Share Code on the ASX: RES
Share Code on the JSE: RSG
(?Resource Generation? or the ?Company?)
31st May 2017
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.
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.
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.
For and on behalf of the Board
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 firstname.lastname@example.org or +61 413 706 143
Australia: Martin Debelle on + 61 282 340 102
South Africa: Charmane Russell/Thembisa Kotobe on +27 11 880 3924
JSE Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
Date: 31/05/2017 09:00:00 Supplied by www.sharenet.co.za
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