RESOURCE GENERATION LIMITED Audio Webcast

RESOURCE GENERATION LIMITED (RES)

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RESOURCE GENERATION LIMITED (RES) Events

Company (Stock Code)	Date/Time	Event	Timezone: Australia/NSW
RESOURCE GENERATION LIMITED (RES)	Wed, 24 Jun 2009 10:00AM	RES - Fully Underwritten Equity Raising - Paul Jury, Managing Director
RESOURCE GENERATION LIMITED (RES)	Wed, 4 Mar 2009 01:00PM	RES - Update on Exploration Results - Mr Paul Jury, Managing Director
RESOURCE GENERATION LIMITED (RES)	Fri, 23 Jan 2009 02:45PM	RES - Quarterly Report Presentation – January 2009 - Mr Paul Jury, Managing Director
RESOURCE GENERATION LIMITED (RES)	Thu, 6 Nov 2008 04:15PM	RES - 2008 Annual General Meeting - Mr Paul Jury, Managing Director
RESOURCE GENERATION LIMITED (RES) Resource Generation - An Emerging Energy Resource Company	Wed, 15 Oct 2008 09:45AM	RES - Company Overview - Mr Paul Jury, Managing Director
RESOURCE GENERATION LIMITED (RES)	Thu, 19 Feb 2009 11:00PM	Interim Results
RESOURCE GENERATION LIMITED (RES)	Thu, 6 Nov 2008 09:00AM	Annual General Meeting Radisson Plaza Hotel, 27 O'Connell Street, Sydney, NSW
RESOURCE GENERATION LIMITED (RES)	Thu, 2 Oct 2008	Full Year Results
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RESOURCE GENERATION LIMITED (RES)

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INTERVIEW WITH PAUL JURY, MANAGING DIRECTOR OF RESOURCE GENERATION LIMITED (RES)

“Resource Generation - An Emerging Energy Resource Company”

http://www.brr.com.au/event/52319

 

WEDNESDAY, OCTOBER 15, 2008, 10:45 AM.

 

            BRR    Hello and welcome to Boardroom Radio. Today, we’re joined by Mr. Paul Jury, Managing Director of Resource Generation, to give us an overview and

10                    update of the Company. Thanks for joining us today, Paul.

            RES    It’s my pleasure. Thank you for having me.

 

            BRR    Paul, after much success at Resource Pacific Holdings Limited, you’ve now joined Resource Generation as the Managing Director. Can you give us a

15                    brief history of your background and experience and what led you to this position?

            RES    Yes, well, look, I’ve probably had over 20 years of experience now in the resources sector, principally in coal mining, and over that time, there have been various companies that I’ve been associated with. Generally speaking,

20                    most of those companies have either been large operators of open cut and underground coal mines, and because of the rationalisation that’s occurred in the industry over those number of years, various of those companies have been subject to successful takeovers so shareholder growth has been apparent in each one of those takeovers, and I guess accordingly Resource

25                    Pacific was the last experience of one of those where we were able to purchase a dormant underground coal mine that needed quite a lot of development work undertaken with it in 2003, and we went through a successful program of developing that mining to a large underground (inaudible) (0:01:15) operation. Subsequently, it was taken over early this

30                    year for around $1.1 billion by Xstrata. So, that means that I was once again looking around for something to do, and fortunately, many opportunities came my way, one of which was the opportunity to look at Resource Generation.

 

            BRR    Paul, Resource Generation was formed through the restructure of Comdek

35                    and has now been trading for approximately one year. What is the background of Resource Generation and the company strategy?

            RES    I should’ve pointed out that Resource Generation was a company that I’d formed subsequent to Resource Pacific Holdings and I used the name to change the name of Comdek. Comdek was a restructured dotcom company,

40                    was into satellite communications many years ago, had gone through a deed of company arrangement around about a year-and-a-half ago. Some of the principles associated with Comdek had managed to secure certain tenements in Cameroon and South Africa, particularly the tenements in South Africa which were coal tenements and in Cameroon the uranium. I took a great deal

45                    of interest once I’ve done a little bit of investigation. Therefore, (inaudible) (0:02:30) accepting the opportunity to take over the company as a Managing Director and obviously take up some large option packages as well. We’ve then moved forward with changing the company’s name on the 5th of September. We had a special meeting of shareholders which approved the change of name from Comdek to Resource Generation. Resource Generation strategy now is fairly well laid out to shareholders and also available in our company documentation that we’re looking to create a new company, a major energy resources company, obviously listed and available for shareholder

5                      growth through delivery of physical projects. Our objective is to try and develop some of these potential resources that we have into operating mines and obviously generate shareholder value and shareholder growth through that development.

 

10        BRR    Paul, you currently have three projects in diverse geographical locations in both the coal and uranium exploration. What is the current progress of these projects and the plans moving forward?

            RES    Well, we have two coal projects, one in South Africa and one in Tasmania, and we have a uranium project in Cameroon. The most attractive prospect

15                    that we have is in Waterberg area of South Africa where we have three tenement areas there, one of which certainly presents excellent opportunity for development of a large scale open cut mine which should be a low-cost operation. Indications are that the coal seam there is 120 m thick and it rests only around about 20 m below the surface. So, a very low overburden ratio of

20                    coal which would present itself as a very cheap mine operation. Coal qualities there are not as good as some of the deposits that we’ve previously had in some of our previous operations in Australia, but then again there are some similar operating mines in the vicinity at the Waterberg area or in South Africa, and we think, they are certainly very low-cost mines.

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                        The Waterberg in South Africa, I should say, is the new coal field of South Africa. It’s not similar to some of the new coal fields that opened up in both Queensland and New South Wales in Australia. It probably holds around about 40% of the coals that is remaining in South Africa. So, the Waterberg is

30                    a future for the massive power industry that South Africa has. South Africa, obviously itself, is a growing economy. There are 60 million people in it, but also a very sophisticated and established heavy materials and industry over there has been established over the last couple of decades. So, the Waterberg area will certainly be the new frontier for mining in South Africa

35                    from a coal perspective.

 

                        In Tasmania, we’ve just recently been granted the exploration license over two areas. Now, these areas previously were relinquished by both Rio Tinto and BHP, and we think they have potential. We have to devise a new

40                    exploration program for them. Initially, they present themselves as open cut deposits. The coal there is probably in the export grade thermal coal and not what I’d call a high capacity grade coal, but certainly well and truly within the export band. If the deposits do prove to be prospective from a mine planning perspective, then we should be able to give the coal (inaudible) (0:05:56)

45                    which is only around 100 km away which a deep water port. So, it does present an excellent opportunity in the infrastructure constraint. This cost scenario in Australia where the possibility does exist for these mines to be fairly profitable if they do exist.

 

                        In Cameroon, we have three uranium deposits. The extent of mineralisation in those deposits was defined over the last 20 years as reasonable. Certainly, there is a significant distance from the cost being in Cameroon and the proximity of this project is adjacent to all the major developments at

5                      Cameroon, is a key issue, is to whether we can get infrastructure corridor across to these deposits. First thing, we want to do though, in Cameroon is to conduct the various mineralisation upgrades of those areas and we’re doing that through aeromagnetic surveys going next year. We hope to be able to do that early next year and depending on the results of those surveys, will

10                    depend on the future plans that we have for developments in Cameroon.

 

                        The company itself has a strategy to expand, whether it’d be through acquisition or through securing additional exploration areas, and I might say that we were fortunate in raising some money in August and that money has

15                    been able to get us started in terms of the exploration programs for the Waterberg deposits in South Africa.

 

            BRR    Paul, thank you for taking the time today to give us the overview of your business and we look forward to speaking to you soon.

20        RES    Thank you very much. I appreciate your help.

 

            BRR    That was Paul Jury, Managing Director of Resource Generation. If you have any questions about this broadcast or any other broadcast, please feel free to contact us on brr@brr.com.au.

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                        I’m Eddie Saade, and thank you for listening to Boardroom Radio.

 

INTERVIEW CONCLUDED

 

 

 

 

Contact brr@brr.com.au for more information

 

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