FancySo hopefully it shouldn't be too long...discounting any...

Fancy

So hopefully it shouldn't be too long...discounting any info received after this to the contrary..

We'll see won't we ?

TS

Resource Generation (RES): Water license awarded; Mining licence appeal dismissed
Trading Indicator : positive
Posted by Chris Drew on Thursday, May 03 2012, 8:43 PM ET
Resource Generation has announced that its two outstanding permitting issues have now been dealt with. It has received its Integrated Water Usry.trae Licence (IWULA) from the Department of Water Affairs, while the Department of Mineral Resources has also dismissed the appeal against the Ledjadja mining right. This is positive news for RES, and now just leaves the haulage agreement with Transnet as the key outstanding agreement necessary to commercialise the project and proceed with funding and development. An ESKOM offtake is also still outstanding, but we understand bank funding is reliant on the Transnet agreement only given the majority of the project cash flows are from the export tonnes. We maintain our Outperform, Speculative Risk Rating, on RES, with an $0.80 price target (ASX. RES, $0.41).
Chris Drew | +61 2 9033 3060 | [email protected] Ken Tham | +(61) 2 9033-3064 | [email protected] Click here for disclosures for Resource Generation Ltd., Chris Drew
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