Wrap Text
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”)
4 June 2018
Market Update
Resource Generation Limited (ASX:RES/JSE:RSG)(Company) provides the following
market update.
Further to the ASX announcement to shareholders dated 16 April 2018 with regard to
the execution of a Bilateral Senior Loan Facility between the IDC and Ledjadja Coal, and
the follow-up advisory dated 10 May 2018, Resgen advises that it is continuing to progress
the development of measures to address the previously disclosed concerns raised by one
of the lenders.
Management, with the support of the Board, is working through mitigation and response
options to ensure that the proposal delivered to the lender will be sufficient to support
completion of their credit approval process.
While satisfactory progress is being made, and a meeting with the lender is contemplated
within the next fortnight, the Board will not be publishing further key dates relating to the
credit approval process at this time.
The Board remains committed, however, to keep the market informed in accordance with
its continuous disclosure obligations.
During early June 2018, the Company plans to table a submission with Noble covering a
request to provide additional funding for the anticipated working capital shortfall
requirement arising from the delay.
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
Rail Link Funding
The Company continues to engage with a number of parties interested in funding the rail
link required for the Boikarabelo Mine.
On behalf of the Board
L M Xate
Chairman
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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:
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:
South Africa: Marion Brower/ Edith Leeson on +27 11 880 3924
JSE Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
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