Ann: Ledjadja ownership increased to 74% , page-8

Found this we are in the news so lets hope that we keep on getting some more good news, PJ and crew are slowly ticking all the right boxes so far.


Australian miner Resource Generation (Resgen) has increased its stake in Ledjadja Coal, which holds the prospecting rights over an area that contains a major portion of coal resources and reserves of the Boikarabelo project, in South Africas Limpopo province.

The ASX- and JSE-listed company previously held a 49% stake in Ledjadja, which it now increased to 74% as part of an earlier shareholders agreement.

Resgen is working towards developing the Boikarabelo and Boikarabelo Extended coal projects in the Waterberg area.

It is hoping to secure mining rights for the Boikarabelo project by early 2011, with first production expected in 2013. The mine would be developed in a two-phased approach.

Phase-one development would result in the production of six-million tons a year of coal, of which one-half would be exported.

The second phase would allow the mine to ramp up to produce 20-million tons a year of coal by 2018.

good luck to all that hold RES.