Resgen continues engagement on mine funding package for Boikarabelo mine
Emerging ASX- and JSE-listed energy company Resource Generation (Resgen) is securing the required regulatory approvals and translating the Mine Funding Package arrangement into a further amendment to the facility agreement for its Boikarabelo coal mine, in South Africa.
Boikarabelo's resources total 995-million tonnes, with coal reserves totaling 267-million tonnes.
The move follows in light of the current Covid-19 pandemic, where the virus has resulted in governments introducing significant physical distancing and travel restrictions creating significant economic uncertainty.
In light of these circumstances, Resgen on April 30 confirmed that it continued to engage with the mine funding package lenders to ensure continued commitment and support for the development of its coal mine.
Resgen also noted that its facility agreement was extended to an additional $2.2-million, which is to be made available in order to facilitate the satisfactory completion, or waiver of conditions precedent, for the mine funding package by June 30.
The first date for repayment of the facility agreement was amended to July 31, from March 31, and the terms of the Valu offtake agreement now need to be renegotiated to reflect the current market norms.
Further, Brian Harvey will join the company as CFO of Resgen and Ledjadja Coal as of June 1.
Ledjaja is Resgen’s fully empowered operating subsidiary.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.
VISIT SHOWROOM
ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
