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ResGen Gets Funding for Boikarabelo Coal Project in South Africa

Coal News - Published on Tue, 10 Dec 2019

Image Source: ResGen Boikarabelo Coal
Resource Generation Limited announced last week that, along with its subsidiary Ledjadja Coal Pty Ltd, it had entered into two non-binding term sheets, being the equity and debt term sheets with a group of three potential funders for the funding of the Boikarabelo Coal Project in South Africa. The latest JORC estimate for Boikarabelo was measured at 995 million tonnes. For stage one of the development, Ledjadja is targeting annual coal production of 6 million tonnes per annum.

The company also advised that work on drafting definitive legal and binding documentation based on the Term Sheets was well progressed. The later announce that the principal binding agreements for the funding of the construction of the Project by the Lending Syndicate have been executed.

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Posted By : Yogender Pancholi on Tue, 10 Dec 2019
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