Resource Generation (Resgen), the Sydney- and Johannesburg-listed coal development firm, was unlikely to secure the balance of its funding for the Boikarabelo thermal coal mine until the second half of 2017.
JSE-and ASX-listed Resource Generation (Resgen) said talks with the Development Bank of Southern Africa (DBSA) concerning the funding for a rail link at its Boikabarelo coal mine, in Limpopo, were now at an advanced stage, with the DBSA to submit its application for first stage credit approval this week.
JSE-and ASX-listed Resource Generation (Resgen) has made the first drawdown of $2.4-million under an extended $8.4-million facility agreement.
Resource Generation (Resgen) has signed an extension of its facility agreement with Noble Resources for funds of up to US$8.4 million for the Boikarabelo project.
Resource Generation (Resgen) has put a new deadline of mid-2017 for the $400m required to complete funding of Boikarabelo, a six million tonne a year (mtpy) thermal coal project in South Africa’s Limpopo province.
Johannesburg – Engineering, procurement, construction and logistics contracts have been aligned to meet the debt funding requirements of the Boikarabelo coal mine project in Limpopo.
Johannesburg - Resource Generation [JSE:RSG] has issued a Sens statement regarding its quarterly report for the three months ended 31 December 2016.
As work continues at its Boikarabelo coal mine, in the Waterberg, dual-listed Resource Generation (Resgen) is considering a proposal to increase an existing unsecured loan facility.
The measured and indicated tonnes of 664.2 million t have increased to 994.81 million t. This is attributable to an increase in the Measured Resource Area as a result of additional drilling.