Going to the President

Hi All,

This is a serious case of misrepresentations and minority shareholder oppression. The SA vultures (as Papi called them), have orchestrated a plan that wipes us of funds and supports their wealthy lifestyle. I am sure this was not the intention of the President of South Africa in his 2030 National Plan for the country that wanted the two major issues addressed.

Write a letter. Silence does not work.

Two issues to be developed;

1. Waterberg to open up with coal
2. heavy rail for Richards Bay

ResGen would have satisfied both of the goals...yet still will in another persons name...

The email address for the following is: [email protected]

As always, reach out to me if you need support, but be heard, as international theft is frowned upon.

Dear President Ramaphosa & Minister Mantashe

I bring your attention to the national development plan 2030-moreover to page 55 of 70 of the executive summary. I allege South African companies have taken Australian shareholder money for their own benefit.

Consider your office important goals;

14. Ensure domestic security of coal supply for existing power stations through industry compact, more comprehensive coal field planning and opening up the Waterberg for coal mining.

15. Invest in a new heavy-haul rail corridor to the Waterberg coal field, upgrade the central basin coal network and expand export capacity in the line to Richards Bay

Both of which were to be supplied by Australian shareholders that have funded a project by Resource Generation, notably supporting a BEE partner with the 26% opportunity in the process and following all other requirements.

Whilst here I watched your address last week at the 4^th South African Investment Conference that discussed how to stimulate investment and the economic development of South Africa. I was very impressed and couldn’t agree more with your points and the intent of the conference. In particular, I noted the national priority to stimulate local and foreign investment in strategic projects such as energy security.

Separately I am also a shareholder in a listed company- Resource Generation (ResGen). Resource Generation are listed on the Australian and Johannesburg Stock Exchanges and have the rights for the development of significant coal resources in Boikarabelo/Waterberg that has been identified as the next set of coal resources to be developed for Energy security. We shareholders have invested significantly over many years to realise this opportunity and we consistently support the development of these strategic coal reserves. Fyi, we have collectively invested heavily to enable this great project to be activated and contribute to South Africa’s future.

Resource Generation have several major South African shareholders- PIC & Noble plus many shareholders in Australia and elsewhere. Shareholders are aware of the unhanded tactics for PIC to sell their shares (insider trading which has been reported). Recently Resource Generation went into Administration in what appear to be very strange circumstances that could otherwise have been a positive outcome considering small scale mine and other. The company was at the point of confirming loan agreements and commencement of mining when it went into Administration. Although this supported local entities wishing to profiteer, it goes against all moral values.

We feel that there is a real risk that the rights and work to date are passed on to new shareholders and investors without regard or reasonable compensation for the investment we Australian shareholders have made. Indeed we feel the project could be salvaged as all the structures, agreements and infrastructure are in place and ready for activation. Insolvency and liquidation will result in legal challenges that potentially delay the development for many years which is not in South Africa’s strategic and economic interests.

We would appreciate your support to look into this matter as we also feel this outcome will set a poor precedent and example of how foreign investment in South Africa is attracted, managed and dealt with.

Please feel free to ask me any questions and I and my fellow shareholders will be pleased to assist wherever we can to ensure you have whatever information you may need.