Resource Generation
Full Resource Generation profile here
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.
The strategy for the company is to develop high grade “energy” related resources into viable and competitive mining operations. Accelerated shareholder value will be delivered through the delivery of physical mining activity.
Resource Generation director buys 69.5k shares
Wednesday, November 19, 2008 by Proactive Investors
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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