ResGen scoops up more land

RESOURCE Generation has inked a purchase agreement to gain more land for its upcoming Boikarabelo mine in South Africa’s Waterberg coal region.
ResGen scoops up more land ResGen scoops up more land ResGen scoops up more land ResGen scoops up more land ResGen scoops up more land

The Draai Om and Witkopje landholdings, courtesy ResGen.

Blair Price

“The land covers two of the tenements contained in the Ledjadja prospecting right, Draai Om and Witkopje, and contains a significant portion of the mineable resource,” ResGen said.

The company will own seven landholdings totalling 8397 hectares in the project area once the acquisition is complete.

ResGen did not reveal the price.

The Boikarabelo tenements have probable saleable reserves of 603 million tonnes, an indicated resource of 570Mt and an inferred resource of 1.7 billion tonnes.

The explorer aims to receive government mining approval by early 2011 and to start open cut coal production by January 2013.

Shares in ResGen closed up 5.3% to 40c yesterday and are unchanged this morning.

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