Wrap Text
Terms Sheets for the funding of the Rail Link to connect the Boikarabelo Coal Mine to the Transnet Main Line
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”)
16 July 2020
Terms Sheets for the funding of the Rail Link to connect the Boikarabelo Coal Mine
to the Transnet Main Line become binding on the parties
Resource Generation Limited (ASX:RES/JSE:RSG)(Company or ResGen) is pleased to
announce that Harith General Partners (Harith) has confirmed on behalf of Pan African
Infrastructure Fund 2 that all requisite approvals for the Rail Link Funding Terms Sheets
(Terms Sheets) executed with its subsidiary, Ledjadja Coal Pty Ltd (Ledjadja Coal), and
announced to the market on 5 May 2020 have now been obtained. These Terms Sheets
whilst binding on the parties remain subject to the fulfilment of various conditions precedent
including inter alia the conclusion of definitive transaction agreements.
Preparation of the definitive transaction agreements comprising the terms and conditions
of the Debt and Equity Terms Sheets detailed in the announcement of 5 May 2020 are well
progressed with a target for finalisation and execution in August 2020.
The principal remaining conditions requiring satisfaction, deferral or waiver before
Financial Close for the transaction include:
. All regulatory approvals including the registration of each servitude to effect the
transaction;
. Notice that the transaction security has been granted; and
. The Mine Funding Package being fully funded and all conditions precedent for
commencement of the Mine having been met.
The Company will keep the market informed on progress in accordance with its continuous
disclosure obligations.
On behalf of the Board
Lulamile Xate
Chairman
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 (012) 345 1057 Fax +27 (012) 345 5314
www.resgen.com.au
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 / Charmane Russell on +27 11 880 3924
JSE Sponsor:
Deloitte & Touche Sponsor Services (Pty) Limited
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
Based on the information currently available to it, ResGen is aware that that PIC, Noble
Group and Altius Investment Holdings each have substantial shareholdings in ResGen.
Forward looking statements
This announcement contains certain forward-looking statements. Forward-looking
statements include those containing words such as “anticipate”, “believe”, “expect”,
“project”, “forecast”, “estimate”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan”,
“consider”, “foresee”, “aim”, “will” and other similar expressions. Any forward-looking
statements, opinions and estimates provided in this announcement are based on
assumptions and contingencies which are subject to change without notice and involve
known and unknown risks and uncertainties and other factors which are beyond the control
of ResGen. This includes any statements about the terms on which ResGen might obtain
funding for the rail link. To the maximum extent permitted by law, the directors of ResGen,
ResGen and any of its related bodies corporate and affiliates, and their officers, partners,
employees, agents, associates and advisers disclaim any obligations or undertaking to
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release any updates or revisions to the information in this announcement to reflect any
change in expectations or assumptions, do not make any representation or warranty,
express or implied, as to the accuracy, reliability or completeness of such information, or
likelihood of fulfillment of any forward-looking statement or any event or results expressed
or implied in any forward-looking statement, and disclaim all responsibility and liability for
these forward-looking statements (including, without limitation, liability for negligence).
The Terms Sheets referred to in this ASX announcement whilst binding remain subject to
a various conditions precedent. Negotiations and the required further actions described in
those term sheets are ongoing and incomplete and there is no certainty that a transaction
will be concluded based on the terms set out in those Term Sheets (or at all). ResGen
makes no representations or warranties whatsoever as to the outcome of the rail link
funding transaction.
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Date: 16-07-2020 08:35:00
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