prediction for res

Hi all

Below is an article about Exxaro who plans to build a coal mine in Waterberg, now I will prediction that by year's end RES will be at $1+, if we are not there then I will sell my shares that I have in RES,( I hope we get there as I have been in this since the CDS days)

I feel that the market doesn't understand RES, or in fact don't know about RES and what it has in the GROUND, as FP knows what we have there in SA, maybe he (FP) should go and see the boys from the big end of town, and say to them look do you know what RES has in the GROUND in SA, its a bargain
at this price.

We all know the FUTURE that RES could have and how much coal it has.... but WTF is happening to the SP of late with the announcement that we have had, I was hoping for a jump
in the SP ( and maybe my wife lol)

Anyway been a long day playing golf lost to many balls, now I have had a few beers and jump on HC to see if any news on RES, I still believe that RES has a FUTURE in SA....but we need all of the infrastructure to be build first ( Water and Rail )

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10th May 2012


JOHANNESBURG – South African diversified miner Exxaro plans to develop a new coal mine in the Waterberg field that will supply 13-million to 15-million tons of coal for exports each year, a senior official said on Thursday.

Exxaro is one of the largest coal producers in the country, supplying coal to power utility Eskom and for exports.

"We are looking at another greenfields project which is geared at the export market. It will give us the opportunity to export to the tune of between 13-million and 15-million tons," Mxolisi Mgojo, the head of Exxaro's coal unit, told a Coaltrans conference in Johannesburg.

The project will happen between 2018 and 2025, he added.

Exxaro is currently finishing the construction of the Grootegeluk expansion project, a mine that will feed coal to state-owned Eskom's new Medupi power station.

Mgojo said the company will be ready to start shipping coal to Eskom for testing by the end of this month.

Exxaro's planned Thabametsi mine, which previously was meant to supply a future Eskom mine, will now be built to supply a power plant of up to 2 000 MW that will be built by an independent producer and come online between 2015 and 2025.

South Africa is seeking to break up a monopoly long held by Eskom and bring new capital into the sector by allowing independent power producers to build and operate plants, especially as Eskom has been struggling to find all the money needed to build new plants and meet a rising demand for power.

Mgojo said the timing of all the projects will depend on the availability of rail and water infrastructure.


http://www.miningweekly.com/article/exxaro-plans-new-13mt-to-15mt-coal-mine-for-exports-2012-05-10


Good luck to all that hold RES