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Market 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”)
29 March 2018
Market Update
Resource Generation Limited (ASX:RES/JSE:RSG) (Company) is pleased to provide the
following market update.
Extension of the Facility Agreement
The Company has agreed a further extension of the Facility Agreement of 3 March 2014
(Facility), under which Noble Resources International Pte Ltd (Lender) will make
available additional funds of up to US$2.5m to the Company's subsidiary, Ledjadja Coal
Pty Ltd (LCL) to fund operations whilst project funding is secured. The total Facility made
available to the Company is now US$34.7m.
The additional funds are to be made available on the same terms as the existing Facility
and can be drawn in monthly tranches over the period to 31 July 2018.
Key terms associated with the extension of the Facility include:
. The additional funds together with the existing fully drawn Facility of US$32.2m (see
ASX Announcements 14 March 2017 and 7 December 2017) are unsecured and
subject to a parent company guarantee of LCL’s obligations under the agreement;
. The funding to be provided in monthly instalments over the period May to July 2018;
. Interest accrues at 10.75% pa and can be capitalised on a six-monthly basis unless
the borrower elects otherwise to pay such interest; and
. The initial Facility of US$20m is now repayable in instalments commencing from 1
August 2018 (previously 1 April 2018) with a termination date of 31 December 2024,
Resource Generation Limited (ACN 059 950 337)
c/o Level 1, 17 Station Road, Indooroopilly, QLD, 4068
GPO Box 126, Albion QLD 4010. Phone +27 (0) 11 010 6310 Fax +27 (0) 86 539 3792
Directors: Lulamile Xate (Chairman), Rob Croll, Dr. Konji Sebati, Colin Gilligan, Leapeetswe Molotsane, Manish Dahiya, Peter Watson
Company Secretary: Mike Meintjes
www.resgen.com.au
however the additional funds made available under the extension of the Facility
(US$14.7m) are repayable from the proceeds of the first drawdown of any facility
agreement for any project financing for the Project.
Mine Development Funding
As outlined in the Market Update of 3 March 2018, the proposed funding syndicate for the
development of the mine (Funders) has commenced their various credit approval
processes with the final approval to be advised in the first week of April 2018.
Whilst the Company has been informed that two of the parties continue to make progress
in accordance with the original approval timeline, the third funding party has advised that
their credit process will only be concluded by the end of April 2018. The Company
continues to work closely with all Funders to ensure that the credit approval process is
completed as soon as possible.
The board meeting to consider a recommendation to Shareholders regarding the Funders’
credit approved term sheets will therefore be re-scheduled to 10 May 2018.
On behalf of the Board
L M Xate
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:
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Lulamile Xate, Chairman on info@resgen.com.au or +27 11 010 6310
Mike Meintjes, Company Secretary on mmeintjes@resgen.com.au or +61 413 706 143
Media enquiries:
Australia: James Strong 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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