41f96d1a-45e7-40cd-94f5-e398fc380c73.pdf
ResGen appoints Chief Operating Officer
"Another positive step towards bringing the Boikarabelo Mine to completion"
03 June 2016
Johannesburg, 03 June 2016: Resource Generation Limited (ResGen), an emerging ASX and JSE-listed coal producer, is pleased to announce the appointment of Zirk van Der Bank as chief operating officer of its operating subsidiary, Ledjadja Coal.
Mr van Der Bank is an experienced mining engineer with more than 20 years' experience in the coal mining industry. He has held a range of supervisory and management positions at Sasol Mining, Moolman Mining, Shanduka Coal and Glencore Coal SA.
Rob Lowe, ResGen chief executive officer, said: "This appointment is another positive step towards the strengthening of our owner's team and bringing the Boikarabelo Mine into the final construction phase. As we develop a new-generation coal mine, Zirk's project and operational experience will be vital to ensure that the project is completed on time and within budget."
About Resgen:
Resource Generation Limited (ResGen) is an emerging ASX and JSE-listed coal producer, currently developing the Boikarabelo Coal Mine in South Africa's Waterberg region. The Waterberg accounts for around 40% of the country's currently known coal resources. The Company has reported Probable Reserves of 744.8 million tonnes* of coal on 35% of the tenements under the Company's control. Stage 1 of the mine development targets saleable coal production of 6 million tonnes per annum.
Substantial progress has been made with regard to securing Boikarabelo's project funding. Rand Merchant Bank has been appointed lead arranger and work on a new base case financial model and term sheet has begun, based on the recommendations of ResGen's Technical Committee.
ResGen's primary shareholders are the Public Investment Corporation of South Africa (PIC), Noble Group and Altius Investment Holdings.
Resource Generation Limited (ACN 059 950 337)
c/o Level 1, 17 Station Road, Indooroopilly, QLD, 4068
GPO Box 126, Albion QLD 4010. Phone +61-2-9376 9000 Fax +27 (012) 345 5314 www.resgen.com.au
For further information please contact:
Mike Meintjes, Company Secretary on [email protected] or +61 413 706 143
Media enquiries:
Australia: Martin Debelle on + 61 282 340 102
South Africa: Charmane Russell/Thembisa Kotobe on +27 11 880 3924
PAGE 2