RESOURCE GENERATION LIMITED - Market Update

Market Update

Resource Generation Limited
Registration number ACN 059 950 337
(Incorporated and registered in Australia)
ISIN: AU000000RES1
Share Code on the ASX: RES
Share Code on the JSE: RSG
(“Resgen” or the “Company”)

14 December 2020

Market Update

Resource Generation Limited (ASX:RES) (Resgen or Company) advises that it has now
executed the legal documentation to reflect the in-principle financial support agreed with
the Noble Group (Noble) (ASX Announcement:16 November 2020) in the form of a
Ninth Deed of Amendment and Restatement to the Facility Agreement dated 3 March
2014 as amended from time to time (Facility Agreement). The agreed additional
financial support of US$920,000 is to be made available in three instalments to cover an
austerity operating budget for the period through to 28 February 2021.

The Facility Agreement is conditional on obtaining a waiver from the ASX under Listing
Rule 10.1 to enable additional security to be granted under the Share Pledge approved
by Shareholders at the 2018 AGM. A Waiver Application has been lodged with the ASX
and a response is anticipated in the coming week.

The Company is appreciative of the continued financial support from Noble.

Execution of the Facility Agreement will enable the Company to finalise and lodge its
Financial Statements and Annual Report for the year ended 30 June 2020. Once this
has occurred the Company plans to apply to the ASX for the current suspension of
trading in its shares to be lifted.

Access to the additional working capital funding has allowed the Company to progress,
along with Noble and its Financial Advisor, a strategic review of alternatives for ensuring
the continued financial health of the Group along with development of the Boikarabelo
Project.

The Company advises that it is planning to schedule the 2020 Annual General Meeting
in late January 2021.

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 (011) 010 6310 Fax +27 (086) 539 3792
Directors: Lulamile Xate (Chairman), Robert Croll, Dr. Konji Sebati,
Colin Gilligan, Leapeetswe Molotsane, Greg Hunter, Michael Gray                           www.resgen.com.au
Interim CEO: Leapeetswe Molotsane
Company secretary: Mike Meintjes
Lulamile Xate
Chairman
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 Coal 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). 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:

South Africa: Marion Brower/ Charmane Russell on +27 11 880 3924

JSE Sponsor:

Deloitte & Touche Sponsor Services (Pty) Limited




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Date: 14-12-2020 09:00:00
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