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Shareholder Update
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”)
15 November 2017
ASX Announcement
Shareholder Update
In each of a Shareholder Update released on 25 August 2017 and the Quarterly Activities Report
released on 25 October 2017, reference was made to an alternative funding proposal – and to an
expectation that the relevant lenders’ credit approval processes and signed terms sheets would be
concluded by (initially) end September/early October 2017 and (then subsequently) late
October/early November 2017.
The Company can now confirm that the proposed facility under negotiation is intended to provide
the total funds required to complete the construction of the mine to the point of commissioning, but
does not include the costs of constructing the rail link or the costs of ramp-up to full production of
coal.
Those proposed lenders have completed their due diligence investigations of the Project and the
Company, and are currently engaged in their respective internal credit approval processes. Once
those credit approvals have been obtained, the parties propose to execute terms sheets recording
the principal terms of the proposed funding. The terms sheets have been drafted based on
negotiations between the proposed lenders and the Company.
Although the credit approval processes are on-going, at this stage the Company is unable to
forecast with any certainty when credit approvals and a signed terms sheet will be obtained from all
proposed lenders, but a further announcement will be made when that occurs.
The Company has received legal advice that this funding proposal will require approval of
Shareholders. An independent expert based in Australia has been identified and will be appointed to
prepare a report to shareholders in respect of the proposal when terms sheets have been executed.
An extraordinary general meeting of Shareholders will then be called for the purpose of considering
the funding proposal.
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
In conjunction with the funding proposal to construct the mine, the Company is continuing to
progress discussions with respect to the funding of the rail link. A further announcement in respect
of this funding will be released in due course.
Ramp-up costs for the mine are estimated to be approximately R300 million (approximately A$27.5
million). Management believes these funds can be raised when required from the commercial
banks, as the Project will have been substantially de-risked at that point in time.
On behalf of the Board
D. J. Gately
Chairman
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). 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
South Africa: Marion Brower/ Charmane Russell on +27 11 880 3924
JSE Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
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