Financial close delay for Resgen’s Waterberg project

JSE- and ASX-listed Resource Generation (Resgen) on Wednesday confirmed that the timeline for its credit committee meeting arranged by a funding syndicate member will not be met, as hoped, before the Christmas break. Last month, Resgen advised that discussions with the lender’s deal team, which is one of three members of the proposed lending syndicate, had confirmed that the lender for the six-million-tonne-a-year Boikarabelo coal mine, in Waterberg, South Africa, remained committed to the project from a technical, commercial and strategic perspective; however, a short delay had arisen in scheduling a credit committee meeting.