Resgen gets ready to start rail construction
JSE- and ASX-listed Resource Generation (Resgen) was preparing to start the con-struction work of a 38 km rail line connecting its Boikarabelo mine to the existing Transnet Freight Rail network in the Waterberg.
The construction of the rail link was considered to be one of the longer lead-time items in the construction of the mine.
The company said last week construction would entail the development of the pad for the base of the construction camp, associated access roads and further infrastructure for the mobilisation of site activities.
“We see this as an important step towards facilitating the total construction of the Boikarabelo mine,” MD Paul Jury said, adding that it would also enable site operational procedures to be tested and optimised prior to the start of full-scale construction.
Resgen is currently developing the Boikara-belo coal mine, which has probable reserves of 744.8-million tonnes of coal on 35% of the tenements under its control.
Stage 1 of the mine development targeted the saleable coal production of six-million tonnes a year.
The group earlier announced that it would seek to raise A$62.6-million to start major construction work at the mine and Jury reminded shareholders that the one-for-one entitlement offer of about 284.7-million shares at $0.22 apiece closed last week.
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