Additional Information
Market: ASX
Sector: General Mining - Coal
EPIC: RES
Latest Price: A$0.33  (0,00%)
52-week High: A$0.88
52-week Low: A$0.33
Market Cap: A$82.73M
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Resource Generation
resgen.com.au

Resource Generation (ASX: RES) is developing one of South Africa’s largest remaining coal deposits, with the company's focos on the Boikarabelo tenements, in the Waterberg region of South Africa.

 

The strategy for the company is to develop high grade “energy” related resources into viable and competitive mining operations. Accelerated shareholder value will be delivered through the delivery of physical mining activity.

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Resource Generation lodges South African mining rights application

11th Feb 2010, 10:58 am

Resource Generation (ASX: RES), developing one of South Africa’s largest remaining coal deposits, has lodged a South African mining rights application for the company’s Boikarabelo mine in the Waterberg region.

Significantly, the Boikarabelo tenements 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.

Paul Jury, managing director of Resource Generation, said that lodgement of the mining rights application is an important step forward in the company's plan to develop a large-scale coal mining operation.

"We have already completed a pre-feasibility study for the mine, and we are now concentrating on coal offtake and transport options and on finalising the necessary infrastructure. When these plans are complete, we will progress funding alternatives, with the aim of starting construction when we receive mining rights," Mr Jury said.

The South African Department of Mines & Energy normally takes approximately 12 months to award mining rights.

The company is on track to start coal production by January 2013.

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