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BRIEF-Resource Generation To Explore Third Parties' Interests In Funding Status Of Boikarabelo Coal Mine

Published 20/08/2018, 09:11 am
© Reuters.  BRIEF-Resource Generation To Explore Third Parties' Interests In Funding Status Of Boikarabelo Coal Mine
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Aug 20 (Reuters) - Resource Generation Ltd RES.AX :

* UPDATES ON FUNDING STATUS OF ITS BOIKARABELO COAL MINE IN WATERBERG, SOUTH AFRICA

* THERE HAD BEEN AN UNEXPECTED DELAY IN SECURING CREDIT APPROVAL FROM ONE OF MEMBERS OF PROPOSED LENDING SYNDICATE

* ENGAGEMENT WITH LENDER CONTINUES; CO REMAINS FOCUSED ON WORKING WITH SYNDICATE TO ACHIEVE FINAL APPROVALS AS SOON AS POSSIBLE

* DUE TO UNCERTAINTY IN HAVING NO CONTROL OVER TIMEFRAMES, IMPERATIVE OF BOARD TO EXPLORE INTEREST EXPRESSED BY THIRD PARTIES

* IT MAY BE POSSIBLE TO STRUCTURE INVOLVEMENT BY A THIRD PARTY AS A SUBSTITUTE FUNDER OR AS A COMPLEMENTARY PARTICIPANT

* COMPANY PLANS TO CONTINUE PURSUING A TANDEM APPROACH TO FINDING A FUNDING SOLUTION

* FURTHER DELAYS LIKELY, PARTICULARLY WHERE DUE DILIGENCE ACTIVITIES FOR POTENTIAL NEW PARTICIPANT NEED TO BE ACCOMMODATED

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