Johannesburg - Resource Generation [JSE:RSG] has issued a Sens statement regarding its quarterly report for the three months ended 31 December 2016.
Resgen (as the company is known) is developing its Boikarabelo Coal Mine in the Waterberg region of South Africa. This region accounts for 40% of the country's remaining identified coal resources. Based on a new business model for the Boikarabelo Coal Mine, the intent is to service both export customers and domestic power stations.
Completion of the project funding continues to be company's highest priority. The company held its annual general meeting in Brisbane on 23 November 2016 where the CEO provided details on the current status of the project's material contracts and funding. All resolutions put to the AGM were passed.