ASX- and JSE-listed Resource Generation (Resgen) has received conditional approval from its lender, Noble Group, to provide additional working capital to its partly owned subsidiary, Ledjadja Coal, to cover the subsidiary’s projected financial needs through to February 28, 2020.
Resgen will extend the facility agreement to Ledjadja by up to an additional $2.5-million and will move the first date for repayment out to February next year.
Resgen continues to negotiate with a proposed lending syndicate on finalising common terms for funding the construction of the Boikarabelo coal mine in South Africa’s Waterberg region.