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The four exploration licences and one exploration application will be added to the company’s existing coal development in South Africa and its uranium interests in Cameroon.
“Coal mineralisation is present in the properties and we shall now plan an exploration drilling program to determine the extent of the mineralisation in accordance with the JORC code,” Jury said.
“This is a positive step towards diversifying our potential resources development.”
In the deal, Resource Generation acquired Energy Investments for 28.5 million shares in Resource Generation, plus 7.5 million shares to the facilitators of the transaction.
Energy Investments held the Latrobe (Bonneys Tier) and Woodbury (Turnbridge) tenements.
Resource Generation also acquired Tiger Coal, which holds licences for Jericho East (Melton), Jericho West (Tiberius) and Jericho North (Oatlands).
Tiger Coal was issued with 60 million Resource Generation shares, plus 15 million shares issuable to the vendors of Tiger Coal.
Resource Generation was trading mid-morning down 11% at 6.4c.
