STTCOMP RES FA LONG
Emerging coal miner in South Africa
Shares on Issue = 581m. Top 20 hold approx 73%.
Current Market Cap = $49m
Ongoing Facility Agreement in place with Noble Group (#2 shareholder) for working capital requirements totalling approx $44m.
RES is a very tightly held stock and has been trading at a heavy discount for many years due to ongoing struggles to secure the project finance (approx $550m) required to develop their 6.4B tonne Boikarabelo coal mine in South Africa. If and when project finance is secured, the SP will re-rate significantly.
A recent announcement from RES stated that credit approval from all members of the Lending Syndicate is to be secured by 29th March - see here for the full announcement.
STTCOMP RES FA LONG Emerging coal miner in South Africa Shares...
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Last
8,567.0 |
Change
-12.100(0.14%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,579.1 | 8,614.8 | 8,549.8 |
| XAO (ASX) Chart |
