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 to list on Johannesburg Stock Exchange
Resource Generation (ASX: RES), which is developing one of South Africa’s largest remaining coal deposits, has decided to apply for a secondary listing of its shares on the Johannesburg Stock Exchange.
The listing is expected to take place in the middle of the 2010 calendar year.
The main aim of the listing is to provide Resource Generation with greater flexibility when raising finance to develop its Boikarabelo mine.
The listing is also expected to encourage South African investors to invest in the company.
Paul Jury, managing director of Resource Generation, said: ‘This is another important step forward in our plan to develop a large-scale coal mining operation. The listing will increase awareness of Resource Generation in the South African business community and is expected to open up additional sources of finance.’
Resource Generation’s Boikarabelo tenements, in the Waterberg region of South Africa, have probable saleable reserves of 603 million tonnes of coal, plus an indicated resource of 570 million tonnes, plus an inferred resource of 1.7 billion tonnes. These figures are expected to increase following further drilling.
The company lodged a mining rights application in February 2010. The South African Department of Mines and Energy normally takes approximately 12 months to award mining rights and the company now intends to progress funding alternatives so it is ready to start construction when the rights are received. Production is currently scheduled to start in January 2013.
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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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08/07/10 Resource Generation gets green light for JSE secondary listing
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25/06/10 Resource Generation moves closer to a listing on Johannesburg Stock Exchange
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24/06/10 Resource Generation gains key approval in Boikarabelo coal project development
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22/06/10 Resource Generation kicks off coal exploration drilling in Tasmania
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21/04/10 Resource Generation acquires land at South Africa coal mine
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15/04/10 Resource Generation reports on quarterly performance
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26/03/10 Broker places $1.15 price target on Resource Generation
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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