Resource Generation
Resource Generation Limited (ASX: RES) is developing one of South Africa’s largest remaining coal deposits. The Boikarabelo tenements, in the Waterberg region of South Africa have probable saleable reserves of 603 million tonnes, an indicated resource of 570 million tonnes and an inferred resource of 1.7 billion tonnes, which are expected to increase following further drilling. Production is forecast to commence in January 2013.
Resource Generation director buys 69.5k shares
Resource Generation (ASX:RES) director, Stephen Matthews has acquired 69,492 shares in RES at 7.7 cents per share. Total ordinary shares held 400,000 ordinary shares. A further 41.9 million unlisted options are held with strike prices ranging from 20 cents to 35 cents.
At the recent annual general meeting the company outlined the following:
Summary of Recent Achievements by new management team
- Secured South African coal deposits
- SA Reserve Bank approval
- Appointed experienced corporate management with a proven track record in developing mining operations
- Employed experienced regional staff to establish a credible platform for development activities to proceed
- Significant resource upgrade
- Acquired Tasmanian exploration tenements
- Commissioned work to secure mining approvals and design mine infrastructure
- Secured funding sufficient to cover development plans for 12 months
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Other Resource Generation articles
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19/02/10 Resource Generation on-track developing a massive coal mine in South Africa
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04/02/10 Resource Generation to lodge mining rights application for Boikarabelo Project
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01/10/08 Resource Generation Limited is developing energy for power-strapped South Africa
Other Resource Generation news
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25/02/10 Resource Generation land acquisition update
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15/02/10 Resource Generation acquires more land in Waterberg
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11/02/10 Resource Generation lodges South African mining rights application
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22/01/10 Resource Generation announces increase in resources and reserves
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24/06/09 Resource Generation to raise $31 million for Waterberg coal project development in South Africa
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02/06/09 Resource Generation generates more excitement at Waterberg-adjacent coal tenements in South Africa
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27/04/09 Resource Generation upgrades Waterberg #1 coal resource to 1 billion tonnes