Resgen continuing efforts to get Boikarabelo mine under way
ASX and JSE-listed coal junior Resource Generation (Resgen) said on Friday negotiations for funding to complete the construction of its Boikarabelo mine continued. However, the company had determined its primary source of funding being pursued was no longer viable, due to uncertainty around the terms of coal supply to Eskom. Management had, however, been in parallel been exploring another funding proposal, which was now complete, the company said in a results statement on Friday. Resgen is developing a substantial coal mine, Boikarabelo, in the Waterberg, which has been under development since 2011. The company was continuing negotiations regarding funds for a rail link that would allow for coal exports. The link was estimated to cost R650m, with a further R300m in ramp-up costs. "Management believes these funds can be raised when required from commercial banks, as the project will have been substantially de-risked at that point in time," Resgen said in its results statement. Resgen...
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