Hi allThings to take from the Quarterly Report!1) All major...

Hi all

Things to take from the Quarterly Report!


1) All major regulatory hurdles have been overcome.

2) Obtaining a 30 year mining right.

3) Obtaining an integrated water use licence, that includes utilising borewater from the
company’s properties, which will be sufficient for stage 1 of operations.

4) Acquisition of all land required for the mine and for the rail link, including some
servitude arrangements.

5) Signing a long-term haulage contract with Transnet.

6) Two significant export contracts to supply thermal coal to Indian customers.

7) A fully compliant BEE structure.

8) The financiers will provide approximately 60% of the total funds required for mine construction......So only another 40% to find, to which I think PJ and RES might do a CR?

9) Negotiations with Eskom on the contractual terms for the initial supply of 3 million tonnes of
thermal coal per annum are now at a mature stage.

10) Cash reserves at 30 September 2012 were $8.9 million.



"Conclusion"

RES has a future in SA as Eskom will need more coal for its power plants.......The Waterberg coal region is where the future of coal is for SA, therefore is where the future of RES is at!

How will the World look like in 2015 the year that RES will start mining from its mine?......I think that it will still need the coal, not only in SA.....But also India will need more by then then what they use NOW!.....So where will they get it from?

If you can wait for another 2 years then RES as Rob has said will be in the top 10 of post on HC!

My thought's are that RES is a Long Term hold for the future.( I might be a bit bullish on RES....But when you have been in a stock like RES you need all the help that you can get! lol)


Good luck to all that hold RES