ASX- and JSE-listed coal miner Resource Generation (Resgen) on September 10 said its lenders’ project team will not approach their credit committees until three conditions precedent are met.

This follows after Resgen subsidiary Ledjadja Coal, which is developing the Boikarabelo mine, on September 4 formally requested that the lenders either defer a limited number of conditions precedent to a date post the financial close on September 30, or that they submit viable alternative solutions with respect to those specific conditions precedent, which could be satisfied before financial close.

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