RES - How Far We Have Come

Hi all,

It's been quite some time since I last posted on here, however with the recent significant milestones achieved, and after reading some commentary on here, it's quite apparent that people have either forgotten, or are simply unaware of how far RES has come, and the significance of the recent announcements.

For those newcomers (and those in need of a refresher), there is an old presentation which provides a very good summary of the company structure and of the milestones achieved to date:

http://www.resgen.com.au/component/jdownloads/send/19-2016/444-resource-generation-presentation

Others on here have already touched on some of these, however it's worth refreshing for those who may have forgotten:

• Positioned adjacent to two coal fired power stations and the largest open cast coal mine in Africa
• In the past eight years of development (now 11 years), Resgen has:
• discovered, drilled and quantified acquired 11 farms
• servitudes negotiated
• environmental, water and power permits secured (6 years of process to achieve)
• mining right obtained
• logistics (rail and port) secured
• Construction commenced 2013 and completed:
• project access roads
• phase one water infrastructure
• staff accommodation camp (1,320 capacity)
• offices power substation and power lines
• rail siding
• civil earth works
• A$200 million expended on project to date

Subsequent to this presentation, we have now secured all 3 lenders of the funding syndicate to fund the construction of the mine with R4.2b ($420MM) facility.

This paves the way for The Common Term Sheet to be secured and EGM to be held in September. Given the time to secure all 3 lenders, and from feedback received from the company, securing the Common Term Sheet will be completed as soon as possible and sent to an Independent Expert, with the intent to hold the EGM in September.

There will be plenty of activity over the next few months and the Board is making an outstanding effort at attempting to keep the market informed throughout the process. It was noted that the most recent update provided some confusion, particularly around the statement concerning in the lead up to commissioning (i.e. circa 18 months time post Financial Close) there will be a need to "raise working capital" of circa R500MM ($50MM).

I sought clarity on this and the company has confirmed this will be a debt vehicle (again this has already been clarified by others on here) and this will be communicated formally by the company for all when they make the next announcement.

Congratulations to all who have managed to hold on over the years and I appreciate the significant effort the board has put in to achieve where we are to date.

Very exciting times ahead and further clarity will be provided once we commence roadshows and investor briefings in the near term.

DISCLOSURE: I have held RES throughout the period mentioned above (11+ years) and continue to hold.