Resource Generation (ASX: RES) is developing one of South Africa’s largest remaining coal deposits, with the company's focos on the Boikarabelo tenements, in the Waterberg region of South Africa.
Resource Generation (ASX: RES) has increased its ownership of Ledjadja Coal (Pty) Limited to 74% from 49% by completing the process under the Ledjadja shareholders' agreement.
Ledjadja owns the prospecting rights which contain the major portion of the coal resources and reserves of the proposed Boikarabelo mine located in the Waterberg region of South Africa.
Boikarabelo’s has reserves of 636.0 million tonnes of which Ledjadja makes up 321.8Mt.
The mine also has an indicated resource of 551.7 million tonnes plus an inferred resource of 1.5 billion tonnes.
On November 5 Resource Generation successfully raised A$30 million through 60 million shares at A$0.50 per share to bring forward the construction of the rail link from the Boikarabelo mine to the existing rail network in South Africa.