https://www.miningweekly.com

Noble makes another $2.5m available to Resgen

29th March 2018

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Coal project development company Resource Generation (Resgen) has signed a further extension of its facility agreement with international commodities group Noble Resources to borrow another $2.5-million.

The total facility made available to the company is now $34.7-million.

Noble is funding Resgen, while the ASX- and JSE-listed company seeks to raise cash to build the six-million-tonne-a-year Boikarabelo mine, in Limpopo.

The additional funds would be made available to Resgen subsidiary Ledjadja Coal in monthly tranches until July 31, 2018.

Resgen said that its initial facility of $20-million was repayable in instalments beginning on August 1, with a termination date of December 31, 2024.

The additional funds would be repaid from the proceeds of the first drawdown of any facility agreement for any project financing for the Boikarabelo project.

Resgen reported that potential funders of the mine development had started their various credit approval processes. The company said it expected to hear from two of the parties in the first week of April and that a third party had indicated that it would only conclude its credit process by the end of April.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION