Resgen makes first drawdown from extended facility agreement

JSE-and ASX-listed Resource Generation (Resgen) has made the first drawdown of $2.4-million under an extended $8.4-million facility agreement. The company reported on March 14 that it had obtained the $8.4-million extension to a March 2014 facility agreement with Noble Resources International, with the additional funds available to Resgen subsidiary Ledjadja Coal in three tranches to September 30. The money is being used to fund the operations and development of the Boikarabelo mine, in South Africa’s Waterberg coalfield.