I was just having a look at FSE and saw our friend there pitman, he was talking about FSE ongoing problems to get funds and there mines up and running.
This is some of what he has said about FES so I was thinking that RES is going along fine at the moment. We should get the rail way link build asap, as we will have the funds for it not sure if FSE can raise funds just yet.
pitman talking now
but my concern here is precisely what you alluded to, funding to get this thing rolling in order to meet the terms of the Eskom deal.
They are promising April 2012, yet there is not a sod turned, no mine license and time is running out. If they sign April 2012 with eskom, they must deliver or incur penalties.
Does this crowd have the balls to do it?
Had a beer at the first thursday miners club in Joburg last week.
Chat has it that the reason RES get things done is that their BEE partner doesnt interfere, and all funds raised go into the project......
Hope the pipeline is a ruddy big water pipeline going to Smitspan.
Now if RES and PJ can get all in order ( all mine license, and mines up and running, the rail way link ,some more funds and a offtake for some more coal say to China ) by this time next year. I will be a very happy man.
If all of that doesn't happen may be we can jump over FSE and get the Eskom deal as Eskom needs coal for there power plant.
Anyway some food for us to digest what could happen in the near future with RES, just keep the faith with RES and relax some ok.
Next year will be a big one for us also don't forget about Tasmanian, that looks good some news should not to far away on this one.
Good luck to all that hold RES
RES Price at posting:
53.5¢ Sentiment: LT Buy Disclosure: Held
