News: RES Resource Generation To Explore Third Parties' Interests In Funding Status Of Boikarabelo...

Aug 20 (Reuters) - Resource Generation Ltd (RES) :

• 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