JSE-and ASX-listed Resource Generation (Resgen) said talks with the Development Bank of Southern Africa (DBSA) concerning the funding for a rail link at its Boikabarelo coal mine, in Limpopo, was now at an advanced stage, with the DBSA to submit its application for first stage credit approval this week. “If approval is granted, there will follow a short due diligence and, subject to a satisfactory outcome, a binding term sheet will be prepared for approval by the board,” Resgen chairperson Denis Gately explained, adding that the DBSA was targeting financial close by September.
